Thirty-two teams contested the competition proper, with the winner qualifying for the 2024–25 AFC Champions League Two.
Macarthur FC were the defending champions, but were eliminated by Campbelltown City in the Round of 32.
Sydney FC won its second Australia Cup after defeating Brisbane Roar in the final.
[1] The lowest ranked side that qualified for this round was Goulburn Valley Suns.
[3] The lowest ranked sides that qualified for this round were Heidelberg United, Melbourne Knights and North Eastern MetroStars.