The tournament featured two rounds of play. Only the top four teams in the conference standings were eligible for postseason play. Each of the two rounds were structured so that the two teams facing one another would play two games and the winner would be decided by the goal differential totals of the combined scores. In the semifinal the first and fourth seeds and the second and third seeds were matched as opponents. The victorious teams would then compete in the finals for the conference championship. The tournament champion was invited to play in a first round game in the 1977 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