Organised by the FAI (Football Association of Ireland), the competition is currently sponsored by Sports Direct.

Shelbourne, Bohemians and Derry City are the only clubs to have won both the (Northern) Irish Cup and the FAI Cup, although Shelbourne and Bohemians only won it before partition, while Derry City remained in the Northern Irish league system until 1973, entering the League of Ireland in 1985.

Alton United based in Belfast and Derry City are the only sides from outside the Republic of Ireland to win the competition.

Since 2003, Irish domestic football has moved from the traditional European August–May season to a summer set-up, as favoured in Scandinavia.

As an "interim" season was played in the second half of 2002, two FAI Cup Finals took place that year – Dundalk winning in April, and Derry City lifting the trophy in November.

The last soccer game to be played at the old Lansdowne Road was the 2006 final, contested between St. Patrick's Athletic and Derry City, who ran out eventual 4–3 winners after extra-time.

The largest ever win in the competition occurred on 29 November 2020 when Dundalk beat Athlone Town 11–0 at the semi-final stage.

The total number of entries in the FAI Cup has changed as Non-League football has gradually been expanded and reorganised over time.

Each club that qualifies for the UEFA Conference League gets prize money worth up to 10 million pounds.