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The Premiership Rugby Cup was created to replace the Anglo-Welsh Cup which had been running since 2005 when the Welsh regions joined the then English-only Powergen Cup. In the 2017–18 Anglo-Welsh Cup, all four of the Welsh regions finished bottom of their pools. In May 2018, the Welsh Rugby Union announced that they were going to be setting up a Welsh under-23s competition for their regions and would thus be unable to commit to Anglo-Welsh Cup games. Premiership Rugby Limited, which organises the English top flight, then announced that the Anglo-Welsh Cup would be replaced by the Premiership Rugby Cup, which would be solely for the English Premiership clubs. The new Premiership Cup was created to re-establish the significance of the domestic cup competition and support development of younger English Premiership players by providing a platform to compete in more matches at Premiership stadia.

The 2020–21 tournament was cancelled due to the effects of the COVID-19 pandemic.