The airport is Canada's largest, that handled 49.5 million passengers in 2018.

[4] The GTAA was formed in 1996 by the Government of Canada, which was divesting its direct control of airports across the country to similar operating agencies.

Previously, Pearson was operated directly by a ministry of the Government of Canada.

The GTAA completed a CA$4.4 billion redevelopment of Toronto Pearson from 1998 to 2008 to enable the airport to handle increases in traffic into the future.

[5] A second international airport for Toronto was proposed since the 1970s with a planned location in Pickering and would have been under the ownership of the GTAA.