[1] Unlike UEFA member associations that use U-21 regional competitions as Olympic qualifying, as a member of CONCACAF, Canada's U-23 team competes in regional qualifying in the same year as the Summer Olympics, and its call-ups are traditionally only limited to players under 23 years of age.

Known for his vocal antics on the touchline, Nick Dasovic led Canada through Olympic qualifying in 2008, drawing Mexico 1–1 and helping to eliminate the heavily favoured Mexican side in the process.

Canada recovered to defeat Guatemala in the third-place playoff, a rematch of their first-round game, winning on penalties (5–3) after a scoreless draw through 120 minutes.

Canada disappointed in their final group stage game with a 1–1 tie versus Cuba, setting up a more difficult semi-final for them against Mexico, which they would lose 3–1.

It was announced in August 2015 that Canada head coach Benito Floro would be in charge of the Olympic team.