After a one-year hiatus, as the Senators had suspended operations for the 1931–32 NHL season, the team rejoined the NHL, and announced former Senators star player Cy Denneny as head coach of the club.
Players on loan to other clubs were returned to the Senators, including Syd Howe and captain Frank Finnigan.
Rookie right-wing Gus Forslund played the season for the Senators, becoming the first Swedish-born player in the NHL.
In goal, Alec Connell would start the season for the Senators, however, he would miss some games due to injury, and would eventually lose his starters job to Bill Beveridge, who emerged as the teams number 1 goaltender.
The Senators would start off the season with a respectable 7–7–3 record through their first 17 games, however, they would slump to a 4–20–7 record the rest of the way, and owner Frank Ahearn had Denneny fine some players who displayed indifferent hockey.