By defeating the Philadelphia Union 3–1 in the Eastern Conference Knockout Round, the club earned their first ever playoff victory, and by defeating New York City FC 7–0 on aggregate, they reached their first ever Eastern Conference Final against their Canadian rivals Montreal Impact.

On December 10, Toronto lost the final at BMO Field in front of another record-breaking 36,045 fans, to Seattle Sounders FC 5–4 on penalties following a goalless draw after extra time.

During the 2015 season, Toronto FC finished sixth out of ten teams in the Eastern Conference.

They qualified for the playoffs for the first time, losing 3–0 in the knockout round to the Montreal Impact.

Only trades involving draft picks and executed after the start of 2016 MLS SuperDraft will be listed in the notes.