In this paper, we characterize and study dynamical properties of cubic vector fields on the sphere \(\mathbb {S}^2 = \{(x, y, z) \in \mathbb {R}^3 ~|~ x^2+y^2+z^2 = 1\}\) . We start by classifying all degree three polynomial vector fields on \(\mathbb {S}^2\) and determine which of them form Kolmogorov systems. Then, we show that there exist completely integrable cubic vector fields on \(\mathbb {S}^2\) and also study the maximum number of various types of invariant great circles for homogeneous cubic vector fields on \(\mathbb {S}^2\) . We find a tight bound in each case. Further, we also discuss phase portraits of certain cubic Kolmogorov vector fields on \(\mathbb {S}^2\) .