Both clubs entered the competition in the first round. Rangers won all of its matches before the final at the first attempt. However, the club received two byes through the duration of the tournament, one in the third round and one in the semi-final. Vale of Leven played in all rounds and also won all of their ties without needing a replay, conceding only one goal in the process.
This was the first final not to feature Queen's Park, who had won all three previous tournaments. The club was defeated by Vale of Leven in the quarter-finals. It was both Vale of Leven's and Rangers début appearance in the Scottish Cup final.
The original match ended in a 1–1 draw. Robert Paton opened the scoring for Vale of Leven, but Rangers equalised courtesy of an own goal from John McDougall. In the replay three weeks later, McDougall evened the scores for Vale of Leven after William Dunlop had opened the scoring for Rangers to force a second replay. In what turned out to be the decider, an early own goal from Jimmy Watson and two late winners from John Baird and Robert Paton were enough to seal a narrow 3–2 victory for Vale of Leven to win the tournament for the first time.