This was the first season under a new format featuring 27 teams and a five-round knockout phase.

Pachuca won their sixth title, defeating Columbus Crew of MLS in the final 3–0.

[1][2] Pachuca also qualified for the 2024 FIFA Intercontinental Cup, held in December.

[3] Twenty-seven teams qualified for the tournament, with five of them earning direct qualification to the round of 16.

In addition to national league competitions in the United States, Mexico, and Canada, 12 of 27 berths were determined by international competitions, including the revamped North American zonal competition, the 2023 Leagues Cup (three), and the existing regional or zonal championships in the Caribbean and Central America, the CONCACAF Caribbean Cup (three) and CONCACAF Central American Cup (six), respectively.

[4] Unlike in previous years, the three MLS teams based in Canada were eligible to qualify for the CONCACAF Champions Cup through slots allocated to MLS (five), in addition to the slot for the Canadian Championship winners, while two Canadian Premier League teams qualified automatically for the first time.

The United States-only 2023 U.S. Open Cup knockout competition and the Canada-only equivalent, the 2023 Canadian Championship, provided one berth each.

Teams were seeded based on their CONCACAF club ranking as of 11 December 2023.

This ranking formula replaced the CONCACAF club index which was used in past editions.

[8] Eight teams – the five receiving byes and the top-three ranked teams entering in the first round – were directly assigned positions in the bracket based on their club ranking.

The remaining nineteen teams were divided into two pots and then randomly drawn into positions.

The final was played on 1 June at Estadio Hidalgo in Pachuca, Mexico.