It was held between March 10 and 12, 1955, and concluded with Michigan defeating Colorado College 5–3.
Four teams qualified for the tournament, two each from the eastern and western regions.
The two best WIHL teams and a Tri-State League representative received bids into the tournament as did one independent school.
[1] The eastern team judged as better was seeded as the top eastern team while the WIHL champion was given the top western seed.
All matches were Single-game eliminations with the semifinal winners advancing to the national championship game and the losers playing in a consolation game.