With owner Charles O. Finley unable to find a buyer, the league took over operation of the troubled California Golden Seals in February 1974.
The Philadelphia Flyers, who developed the nickname "Broad Street Bullies" because of their physical style of play, dethroned the Chicago Black Hawks as the West Division champions behind the dominant play of Bobby Clarke and Bernie Parent.
Tragedy hit the NHL in the early morning hours of February 21 when 44 year-old Buffalo Sabres defenseman Tim Horton was killed in an automobile accident.
In the East Division, the Boston Bruins regained the top spot in the East and the league, behind an ongoing offensive juggernaut that saw Bruins' players finish 1–2–3–4 in NHL scoring (Phil Esposito, Bobby Orr, Ken Hodge, and Wayne Cashman) for the second and most recent time in league history.
In doing so, the Flyers became the first-ever post 1967 NHL expansion team to win a playoff series against an Original Six opponent.
The Atlanta Flames made their first playoff appearance in their second season after entering the league in the previous year.
Chicago won this year's six-game regular season series earning eight of twelve points.
Chicago won this year's five-game regular season series earning seven of ten points.
New York won this year's five-game regular season series earning six of ten points.
Boston won this year's five-game regular season series earning seven of ten points.
Note: GP = Games played, G = Goals, A = Assists, Pts = Points, PIM = Penalties in minutes Source: NHL.
[4] Note: GP = Games played; Min = Minutes played; GA = Goals against; GAA = Goals against average; W = Wins; L = Losses; T = Ties; SO = Shutouts The following is a list of players of note who played their first NHL game in 1973–74 (listed with their first team, asterisk(*) marks debut in playoffs): The following is a list of players of note that played their last game in the NHL in 1973–74 (listed with their last team): NOTE: Frank Mahovlich would finish his major professional career in the World Hockey Association.