The tournament featured three rounds of play. The team that finished below eighth place in the standings was not eligible for postseason play. In the quarterfinals, the first and eighth seeds, the second and seventh seeds, the third seed and sixth seeds and the fourth seed and fifth seeds played a best-of-three series, with the winners advancing to the semifinals. In the semifinals, the remaining highest and lowest seeds and second highest and second lowest seeds play a single-game, with the winners advancing to the finals. The tournament champion receives an automatic bid to the 1988 NCAA Division I Men's Ice Hockey Tournament.
Conference standings
Note: GP = Games played; W = Wins; L = Losses; T = Ties; PTS = Points; GF = Goals For; GA = Goals Against
