The country's national title, the Ukrainian Championship, was awarded annually to the league champion following a 4-team, 2-round playoff[1] at the end of the 41-game regular season.

[5] The league was formed on 25 July 2011, in Kyiv, Ukraine, to reflect its fully professional status,[6] apart from its predecessor organisation, the Major League (Ukrainian: Вища ліга, Vyscha Liha), which was controlled and operated by the Ice Hockey Federation of Ukraine (FHU) as part of the Ukrainian Hockey Championship, inaugurated in 1992.

Expatriates account for 25% of the league's players, most of which come from Russia and Belarus, but also Lithuania, Latvia, the Czech Republic, Slovakia and the United States.

Following the 2012–13 season, and financial turmoil, the FHU retook control of awarding the Ukrainian Hockey Championship.

[7] Bilyi Bars and Kompanion-Naftogaz drew criticism during the 2011–12 season for violating this rule and using the Russian language instead.

[6] The league has stated intent to expand to Sumy, Dnipropetrovsk, Luhansk, Kherson, Kalush, Severodonetsk, Ivano-Frankivsk, Kryvyi Rih, and Zakarpattia.

Following the inaugural season, the league contracted to 7 teams, as Vinnytski Haidamaky lacked the funding and proper infrastructure to continue.

The suffix is generally a proper name or mascot in either the singular or plural form ("White Leopard" or "Lions"), a geographical indicator (Donbas), or team sponsor ("Companion", "Naftogaz").

Prior to the formation of the PHL, the Ice Hockey Federation of Ukraine (FHU) administered and handed out the award, allowing both amateur and professional teams to compete in an annual regular season, then playoff for the title.

[1] In addition to the title, winning team is given a cash prize by the league, $1,000,000 USD, shared by all of the players.