The tournament consists of 12 teams and is contested by all Test-playing nations plus qualifiers. The championship is expected to be held around every two years.
The inaugural event, the 2007 ICC World Twenty20 was staged in South Africa from September 11, 2007 to September 24, 2007. The inaugural champion of the ICC World Twenty20 is who defeated in the final at Johannesburg by five runs.
The series completed its first cycle in 2007, with teams allotted into divisions based on their performance in the qualification tournaments for the 2007 World Cup. As the two finalists of the World Cricket League Division One tournament, and , were rewarded with qualification for ICC World Twenty20 2007 alongside the ten test playing nations.
The winners of the 2007 tournament were .
| Group A | Group B | Group C | Group D |
|---|---|---|---|
| South Africa | Australia | Sri Lanka | India |
| West Indies | England | New Zealand | Pakistan |
| Bangladesh | Zimbabwe | Kenya | Scotland |
| Year | Host | Winner | Runner-up | Final Result |
|---|---|---|---|---|
| 2007 | South Africa | India Won by 5 runs | ||
| 2009 | England | -- | -- | -- |
| Twenty20 World Cup records | ||
|---|---|---|
| Batting | ||
| Most runs | Matthew Hayden | 265 (2007) |
| Highest average | Brendan Taylor | 107.00 (2007) |
| Highest score | Chris Gayle v South Africa | 117 (2007) |
| Highest partnership | Chris Gayle & Dwayne Smith (1st Wicket) v South Africa | 145 (2007) |
| Most runs in a tournament | Matthew Hayden | 265 (2007) |
| Bowling | ||
| Bowling average (Lowest average) | Ramnaresh Sarwan | 5.00 (2007) |
| Best bowling figures | Mark Gillespie v Kenya | 4/7 (2007) |
| Most wickets in a tournament | Umar Gul | 13 (2007) |
| Fielding | ||
Most dismissals (wicket-keeper) | Adam Gilchrist | 9 (2007) |
| Most catches (fielder) | AB de Villiers | 6 (2007) |
| Team | ||
| Highest score | v Kenya | 260/6 (2007) |
| Lowest score | v New Zealand | 73 (2007) |