The season featured nine clubs and ran from 24 April to 18 September, comprising a 16-match home-and-away season followed by a four-week finals series featuring the top four clubs.

Collingwood won the minor premiership by finishing atop the home-and-away ladder with a 14–2 win–loss record.

In 1915, the VFL competition consisted of nine teams of 18 on-the-field players each, with no "reserves", although any of the 18 players who had left the playing field for any reason could later resume their place on the field at any time during the match.

With the VFL being reduced to nine clubs, a bye was required in the fixture for the first time in the league's history.

Each team played each other twice in a home-and-away season of 18 rounds (i.e., 16 matches and 2 byes); once the 18 round home-and-away season had finished, the 1915 VFL Premiers were determined by the specific format and conventions of the amended "Argus system".