Teams from Germany and Czechoslovakia rejoined the top level of international hockey this year. Nine nations played a round-robin with the top three nations receiving medals at the end. Canada won their fifth Olympic title, and fifteenth World title. The USA tied their final game against Canada to finish one point ahead of both Sweden and Czechoslovakia, clinching the silver medal. Czechoslovakia and Sweden both finished with six wins and two losses, additionally, they had an equal goal differential of +29. The Czechs had defeated the Swedes four to nothing on the final day, and believed that they had won the Olympic bronze, and the European Championship. However, organizers decided that they should play a final tie-breaking game, in which the Swedes overcame a three goal deficit to win five to three.
The jersey of the Edmonton Mercurys, the gold medal winners.
This would be Canada's last gold medal in men's Olympic ice hockey until the 2002 Winter Olympics when they would again play the United States, 50 years to the day (also a Sunday).