In the current format, all eligible teams (6 in 2022, with two other members not being eligible in that season due to being in transition from NCAA Division II) compete to the single-elimination tournament, with all games being played at the home field of the higher seed.

The winner of the tournament receives an automatic berth to the NCAA Division I Men's Soccer Championship.

Fairleigh Dickinson and St. Francis Brooklyn, the latter of which shut down its athletic program after the 2022 season, have won the most titles with nine (9).

Fairleigh Dickinson holds the longest consecutive championship streak (4, 2000–03), followed by Monmouth (3, 2009–11).

Participation of NEC Tournament Champions in the NCAA tournament has led to an overall record of 11–20, with Fairleigh Dickinson accounting for 7 wins followed by Central Connecticut and Monmouth with 2 wins apiece.