The competition started on 26 August 2020 and concluded on 13 May 2021 with the final at the Ternopilsky Misky Stadion in Ternopil.
[3] All competition rounds consisted of a single game with a home field advantage granted to a team from lower league.
Qualification for the competition was granted to all professional clubs and finalists of the 2019–20 Ukrainian Amateur Cup.
[2] Dynamo Kyiv won their joint-record 13th Ukrainian Cup title after beating Zorya Luhansk 1–0 in extra time in the final.
Due to the ongoing COVID-19 pandemic, access of spectators to stadium was limited, but was allowed to one of postponed games (matches) of the first preliminary round on 9 September 2020 at Slavutych Arena.