It is described by the organizers as the "World Cup of Tennis", and the winners are referred to as the World Champion team. The competition began in 1900 as a challenge between Great Britain and the United States. By 2016, 130 nations entered teams into the competition. The most successful countries over the history of the tournament are the United States (winning 32 tournaments and finishing as runners-up 29 times) and Australia (winning 28 times, including four occasions with New Zealand as Australasia, and finishing as runners-up 19 times). The present champions are Great Britain who beat Belgium to win the title for the 10th time in 2015. It was Great Britain's first title in 79 years, and first in the open era. The win moved Great Britain to third on the all-time winners list.

The women's equivalent of the Davis Cup is the Fed Cup. Australia, the Czech Republic, and the United States are the only countries to have held both Davis Cup and Fed Cup titles in the same year. The Hopman Cup, a third competition for mixed teams, carries less prestige, but is a popular curtain raiser to the tennis season.