The 1931 World Championship was the 5th World Championship, an annual international ice hockey tournament. It took place between 1 and 8 February 1931 in Krynica-Zdrój, Poland. The tournament was won by Canada who were represented by the University of Manitoba Grads team, claiming their fifth world championship title by finishing on top of the group in the final round with a total of nine points. The United States finished second to win the silver medal, losing only one game to Canada and Austria finished third for the bronze medal. The host nation of Poland finished fourth at the tournament after winning one game, tying one, and losing three in the final round.
The World Championship also acted simultaneously as the 15th European Championship. Austria who finished highest of the European teams in third were named the champions.
First round 
Four teams compete in the First round each playing one game. The winning teams advance to the Second round and the losing teams compete in the Consolation round.
Second round 
Eight teams compete in the Second round each playing one game. The winning teams advance to the Final round and the losing teams compete in the Third round.
Third round 
The four losing teams from the Second round compete in the Third round each playing one game. The winning teams advance to the Final round and the losing teams compete in the Consolation round.
Final round 
The six participating teams played a round-robin, with the top three teams winning gold, silver and bronze respectively. Canada's University of Manitoba Grads won the tournament with a total of nine points after winning four games and tying one. Sweden's 0 – 0 tie with Canada was the first time a European team did not lose to a team representing Canada in a World Championship match. Due to a tie between Czechoslovakia and Poland in points, fourth spot was given to Poland who had more total goals scored.
Consolation round 
The four participating teams played a round-robin, with games played between February 4 to February 7. The winner Hungary won all three games, finishing with six points and earning sixth place in the overall standings.
15th European Championship 
The 1931 World Championship also acted simultaneously as the 15th European Championships. Austria were named champions after finishing as the highest ranked European team in the tournament in third. Second and third were awarded to Poland and Czechoslovakia respectively.
Austrian winning team 
- Herbert Brück, Friedrich Demmer, Jacques Dietrichstein, Anton Emhardt, Josef Göbl, Bruno Kahane, Karl Kirchberger, Ulrich Lederer, Walter Sell, Hans Tatzer, Hans Trauttenberg, Hermann Weiß
Medal table 
- Müller presents the European standings as not including the 'Consolation Round,' so the placement of the last four nations differ from the 'World' standings.
Ranking and statistics 
Final standings 
The final standings of the tournament:
- ^ a b c d e f g h i j Müller, Stephan (2005). International Ice Hockey Encyclopaedia 1904–2005. Germany: Books on Demand. p. 48. ISBN 3-8334-4189-5.
- Complete results
- Duplacey, James (1998). Total Hockey: The official encyclopedia of the National Hockey League. Total Sports. pp. 498–528. ISBN 0-8362-7114-9.
- Podnieks, Andrew (2010). IIHF Media Guide & Record Book 2011. Moydart Press. pp. 26, 123–4.