The tournament featured three rounds of play, all of which were single-elimination. The three teams that were division champions automatically qualified for the tournament while the remaining five seeds were given to the teams with the highest winning percentage. The top four seeds were given out to the three division champions and the top qualifier and assorted based upon winning percentage. The remaining four seeds were assigned to the other qualifiers and assorted based upon winning percentage. In the quarterfinals the first seed and eighth seed, the second seed and seventh seed, the third seed and sixth seed and the fourth seed and fifth seed played against one another. In the semifinals, the highest seed plays the lowest remaining seed while the two remaining teams play with the winners advancing to the championship game and the losers advancing to the third place game. The tournament champion receives an automatic bid to the 1981 NCAA Division I Men's Ice Hockey Tournament.
Conference standings
Note: GP = Games played; W = Wins; L = Losses; T = Ties; Pct. = Winning percentage; GF = Goals for; GA = Goals against
Championship: Providence † indicates conference regular season champion * indicates conference tournament champion ^ Army had been accepted into ECAC Hockey but had not begun a conference schedule