Despite the fact that Pierre Larouche, Jean Pronovost and Syl Apps were unable to reproduce their franchise record-setting offensive output of the previous season the team finished with a similar regular season record on the strength of improved defensive prowess and the goaltending of Dunc Wilson and Denis Herron, who was re-acquired from the Kansas City Scouts in the off-season.
General Manager Wren Blair, who had been part of the ownership group which bought the club from the NHL in July 1975 until February 1976, was removed from his position December 3, 1976.
Aldege 'Baz' Bastien, the man who had coached the American Hockey League's Pittsburgh Hornets to a Calder Cup championship in 1967, was named Blair's replacement.
Co-owners Al Savill and Otto Frenzel sold the club to shopping mall magnate Edward J. DeBartolo Sr. in February 1977, less than two years after having bought the team from the NHL.
The Penguins' opponent in the first round of the Stanley Cup playoffs was once again the Toronto Maple Leafs.