It was named in honour of Lester B. Pearson, who was Prime Minister of Canada from 1963 to 1968, the recipient of the 1957 Nobel Peace Prize, and a former player and coach for the University of Toronto Varsity Blues men's ice hockey team.

[2] On April 29, 2010, the National Hockey League Players' Association announced that the award would be reintroduced as the Ted Lindsay Award to honor Hall of Famer Ted Lindsay for his skill, tenacity, leadership, and role in establishing the original Players' Association.

[1] The voting for the trophy is conducted at the end of the regular season by the members of the NHL Players Association.

[3] The Lindsay Award is considered to be the companion of the Hart Memorial Trophy—the trophies have been won by the same player for the same season 35 times (of the 52 seasons both have been awarded) by 22 players: Bobby Clarke, Phil Esposito, Guy Lafleur (x2), Gretzky (x5), Mario Lemieux (x3), Mark Messier (x2), Brett Hull, Sergei Fedorov, Eric Lindros, Dominik Hasek (x2), Jaromir Jagr, Joe Sakic, Martin St. Louis, Sidney Crosby (x3), Alexander Ovechkin (x2), Evgeni Malkin, Carey Price, Patrick Kane, Connor McDavid (x3), Nikita Kucherov, Leon Draisaitl, Auston Matthews, and Nathan MacKinnon.

Brett Hull, Ovechkin and Auston Matthews have also led the league in goals in years they won the Hart and Pearson/Lindsay (but not the Art Ross).