The number of teams and the format of each final tournament have varied over the years. In most tournaments, the tournament consists of a round-robin group stage followed by a single-elimination knockout stage.

Since the 1962 edition, this competition has been held in two phases: a qualification phase (or called the elimination phase) and a final tournament. The host country of the final tournament is automatically qualified, and in the first editions the defending champion was also qualified for the following tournament.

Only the hosts received an automatic qualification spot, with the other 23 teams qualifying through a qualification tournament. At the finals, the 24 teams were drawn into six groups of four teams each. The teams in each group played a single round robin.

After the group stage, the top two teams and the four best third-placed teams advanced to the round of 16. The winners advanced to the quarter-finals. The winners of the quarter-finals advanced to the semi-finals. The losers of the semi-finals played in a third place play-off, while winners of the semi-finals played in the final.