The inaugural edition of the Canadian Polaris Music Prize presented on September 18, 2006, at Toronto's Phoenix Concert Theatre.

[1] The winning album was Final Fantasy's He Poos Clouds.

[2][3] The prize's list of 10 finalist albums, chosen from an initial list of 165 nominees, was announced on July 4.

[4] A compilation album featuring tracks from the ten nominated albums was also released.