It was hosted at the Queen Elizabeth Hotel in Montreal, Quebec, on June 15, 1978.

The last active player in the NHL from this draft class was Viacheslav Fetisov, who retired after the 1997–98 season, although he was re-drafted in 1983.

The Washington Capitals chose to take an extra pick in the first round instead of participating in the dispersal draft (Tim Coulis), and were allowed to pick in Cleveland's position in the second round to complete the Bob Girard/Walt McKechnie trade.

[1] The New York Islanders had traded their fourth round selection to Cleveland, so that pick was forfeited.

Club teams are located in North America unless otherwise noted.