The 1987–88 Cypriot Cup was the 46th edition of the Cypriot Cup. A total of 65 clubs entered the competition. It began on 7 November 1987 with the first preliminary round and concluded on 26 June 1988 with the final which was held at Tsirion Stadium. Omonia won their 8th Cypriot Cup trophy after beating AEL 2–1 in the final.
The competition consisted of seven knock-out rounds. In the first preliminary round each tie was played as a single leg and was held at the home ground of one of the two teams, according to the draw results. Each tie winner was qualifying to the next round. If a match was drawn, extra time was following. If extra time was drawn, the winner was decided by penalty shoot-out.
In the second preliminary round each tie was played as a single leg and was held at the home ground of one of the two teams, according to the draw results. Each tie winner was qualifying to the next round. If a match was drawn, extra time was following. If extra time was drawn, there was a replay at the ground of the team who were away for the first game. If the rematch was also drawn, then extra time was following and if the match remained drawn after extra time the winner was decided by penalty shoot-out.
The next four rounds were played in a two-legged format, each team playing a home and an away match against their opponent. The team which scored more goals on aggregate, was qualifying to the next round. If the two teams scored the same number of goals on aggregate, then the team which scored more goals away from home was advancing to the next round.
If both teams had scored the same number of home and away goals, then extra time was following after the end of the second leg match. If during the extra thirty minutes both teams had managed to score, but they had scored the same number of goals, then the team who scored the away goals was advancing to the next round (i.e. the team which was playing away). If there weren't scored any goals during extra time, the qualifying team was determined by penalty shoot-out.
All the 14 clubs of the Cypriot Third Division and 20 clubs from the Cypriot Fourth Division (6 first of league table of each group the day of draw and two best 7th place of all groups) participated in the first preliminary round.
