Created in 1993, the medal is presented to both living and deceased members of the Canadian Forces deemed to have demonstrated "distinguished and valiant service in the presence of the enemy,"[2] and grants recipients the ability to use the post-nominal letters SMV.

On the obverse is a roundel at the centre of the star, bearing a gold maple leaf on a red enamel background and surrounded by a silver laurel wreath.

The reverse bears on the upper arm the royal cypher of the reigning monarch beneath St. Edward's Crown—symbolizing the Canadian monarch's roles as both fount of honour and Commander-in-Chief of the Canadian Forces[5][6]—and the inscription pro valore.

[2] Should a person meet these criteria, nominations are made through his or her chain of command to the Military Valour Decorations Advisory Committee[3]—a part of the Chancellery of Honours at Government House—which then makes its recommendations to the Governor General of Canada, via the Chief of the Defence Staff.

[3] Once they have been decorated with the Star of Military Valour, recipients are granted the right to use the post-nominal letters SMV.