Kitchener defeated competing bids from Oshawa, Saginaw, London, Sarnia and Kingston to host the Memorial Cup, with the official announcement being made on May 10, 2007.

The tournament began on May 16, 2008, with a round-robin game between Gatineau and Kitchener and ended on May 25, 2008, with the Spokane Chiefs defeating the Kitchener Rangers 4–1 in the championship game to win the Memorial Cup.

A memorable moment of the tournament occurred immediately following the championship game.

As Spokane Chiefs captain Chris Bruton was about to hand the trophy to teammate Trevor Glass, the cup detached from the base and fell to the ice.

[1] This was not the original Memorial Cup, which resides at the Hockey Hall of Fame, but a replica.