The "NASCAR NEXTEL Cup Series" is the sport's highest level of professional competition. It is consequently the most popular and most profitable NASCAR series. The 2006 NEXTEL Cup season consisted of 36 races over 10 months, with over $4 million in total prize money at stake at each race. Writers and fans often use "Cup" to refer to the NEXTEL Cup series and the ambiguous use of "NASCAR" as a synonym for the NEXTEL Cup series is common. As of 2007, the defending champion is Jimmie Johnson.

In 2004, NEXTEL took over sponsorship of the premier series from R.J. Reynolds, formally renaming it from the Winston Cup to the NEXTEL Cup Series. A new championship points system, "The Chase for the NEXTEL Cup" was also developed, which reset the point standings with ten races to go, making only drivers in the top ten or within 400 points of the leader eligible to win the championship. In 2007, NASCAR announced it was expanding "The Chase" from ten to twelve drivers, eliminating the 400-point cutoff, and giving a ten-point bonus to the top twelve drivers for each of the races they have won out of the first 26. Wins throughout the season will also be worth five more points than in previous seasons. In 2008, the premier series title name will become the Sprint Cup Series, as part of the merger between NEXTEL and Sprint.

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