The first edition of the Icelandic Women's Cup championship was held in 1975 and won by Þór Akureyri.

All the rounds are played with a single game knockout format.

[1] Finally, the winner of the Icelandic Cup championship, or the runner-up if the same team wins both the cup and national championship, will then face the winner of the Úrvalsdeild kvenna championship in a single game to determine the winner of the Icelandic Supercup championship in the beginning of the next season.

[2] The Cup was known as Geysir bikarinn for sponsorship reasons from 2018 to 2020.

[3] In January 2021, VÍS was announced as the new sponsor for the cup competition.