The competition features the club champions of the six confederations of FIFA, and is played as a knockout tournament with the European team receiving a bye to the final.

[1] Real Madrid are the current champions, having defeated Pachuca 3–0 in the inaugural final in 2024.

The similarly named Intercontinental Cup (1960–2004) was a club competition organised by UEFA and CONMEBOL which was usually contested by between the champions of the two respective confederations.

It features a circular base with six pillars extending upward from it, supporting a globe shaped like a football.

The trophy is gold in colour and has a plaque on the base with the name and year of the tournament.