The tournament took place from 27–29 November 2020 at the Ricoh Arena, Coventry, behind closed doors,[1] as it was announced on 23 September 2020 that the usual venue of Butlin's Resort in Minehead would be unavailable due to the COVID-19 pandemic.

Michael van Gerwen was the defending champion after defeating Gerwyn Price 11–9 in the 2019 final,[2] and successfully defended his title to win the tournament for a sixth time, with an 11–10 victory over Mervyn King in the final.

[3] The 2020 Players Championship Finals will have a total prize fund of £500,000, the same amount that was available in 2019.

[5] On 18 November, it was announced that the Canadian 33rd seed Jeff Smith had withdrawn from the tournament, owing to the tough quarantine restrictions imposed by the COVID-19 pandemic in his country, so the next player on the Players Championships Order of Merit, Ryan Meikle became the new 64th seed, with the players ranked 34th-64th all moving up a place.

There was no draw held, all players were put in a fixed bracket by their seeding positions.