The Canadiens defeated the rival Maroons in a two-game series before losing to the eventual Stanley Cup winner Ottawa Senators in the semi-finals.
The Canadiens, last place finishers in 1925–26, signed three players from the Western Hockey League.
They further strengthened their team by signing Herb Gardiner from Calgary for defence and adding Art Gagne from Edmonton to the forwards.
In a "Battle of Montreal" quarter-final, the Canadiens defeated the Maroons in a close two-game total-goals series 2–1.
The eventual Stanley Cup champions defeated the Canadiens 5–1 in a two-game total-goals series.