The Lethbridge Broncos won the Scotty Munro Memorial Trophy for posting the best record during the regular season.
In the playoffs, the Portland Winter Hawks became the first American-based club to win the President's Cup championship when they defeated the Regina Pats in the championship series.
This also made the Winter Hawks the first American team to compete for the Memorial Cup at the 1982 tournament.
The season also marked the end of the Spokane Flyers organization, as it ceased operations on December 2, 1981, after playing only 26 games.
1Folded mid-season Note: GP = Games played; G = Goals; A = Assists; Pts = Points; PIM = Penalties in minutes On January 19, the West All-Stars defeated the East All-Stars 4–2 at Winnipeg, Manitoba, before a crowd of 3,500.