Although this award does not signify a league championship, as that is decided during the Canadian Premier League Finals, the winning team is awarded an equal monetary prize to the eventual playoff champions, and a berth in the next season's CONCACAF Champions Cup.

[1] At the end of the 2022 Canadian Premier League season, the league announced that they would begin to recognize the regular season accomplishments of its member clubs to have more similarity with soccer competitions around the world, which put less emphasis on post-season results.

The CPL Shield was first unveiled near the end of the 2023 Canadian Premier League regular season.

[5] The trophy is a silver shield measuring about 46 centimetres (18 in) in diameter and weighing 9 kilograms (20 lb).

† – Trophy awarded retroactively Starting in 2023, the CPL Shield winner earned Canada's berth in the following year's CONCACAF Champions Cup.