This was the last season for the O'Brien Cup before its temporary retirement in favour of the Prince of Wales Trophy which would be introduced the following season. The trophy would come back for the 1927–28 NHL season.
Joliat scored two goals in his first game with the Canadiens, but Babe Dye had five goals in the Toronto St. Patricks' 7–2 win.
On January 31, 1923, the Montreal Canadiens and Hamilton Tigers played the first penalty-free game in NHL history, a 5–4 Montreal victory.
On February 17, 1923, Cy Denneny of Ottawa scored his 143rd goal, surpassing Joe Malone as the all-time goal-scoring leader as the Ottawa Senators shut out the Montreal Canadiens 2–0.
| National Hockey League | GP | W | L | T | Pts | GF | GA | PIM |
|---|---|---|---|---|---|---|---|---|
| Ottawa Senators | 24 | 14 | 9 | 1 | 29 | 77 | 54 | 188 |
| Montreal Canadiens | 24 | 13 | 9 | 2 | 28 | 73 | 61 | 174 |
| Toronto St. Patricks | 24 | 13 | 10 | 1 | 27 | 82 | 88 | 200 |
| Hamilton Tigers | 24 | 6 | 18 | 0 | 12 | 81 | 100 | 182 |
| Player | Team | GP | G | A | Pts |
|---|---|---|---|---|---|
| Babe Dye | Toronto St. Patricks | 22 | 26 | 11 | 37 |
| Cy Denneny | Ottawa Senators | 24 | 23 | 11 | 34 |
| Billy Boucher | Montreal Canadiens | 24 | 24 | 7 | 31 |
| Jack Adams | Toronto St. Patricks | 23 | 19 | 9 | 28 |
| Mickey Roach | Hamilton Tigers | 24 | 17 | 10 | 27 |
| Odie Cleghorn | Montreal Canadiens | 24 | 19 | 6 | 25 |
| George Boucher | Ottawa Senators | 24 | 14 | 9 | 23 |
| Reg Noble | Toronto St. Patricks | 24 | 12 | 11 | 23 |
| Cully Wilson | Hamilton Tigers | 23 | 16 | 5 | 21 |
| Aurel Joliat | Montreal Canadiens | 24 | 12 | 9 | 21 |
| Player | Team | GP | MINS | GA | SO | AVG |
|---|---|---|---|---|---|---|
| Clint Benedict | Ottawa Senators | 24 | 1486 | 54 | 4 | 2.18 |
| Georges Vezina | Montreal Canadiens | 24 | 1488 | 61 | 2 | 2.46 |
| John Ross Roach | Toronto St. Patricks | 24 | 1469 | 88 | 1 | 3.59 |
| Jake Forbes | Hamilton Tigers | 24 | 1470 | 110 | 0 | 4.49 |
Montreal Canadiens vs. Ottawa Senators
| Date | Team | Score | Team | Score | Notes |
|---|---|---|---|---|---|
| March 7 | Montreal Canadiens | 0 | Ottawa Senators | 2 | |
| March 9 | Ottawa Senators | 1 | Montreal Canadiens | 2 |
Ottawa Senators vs. Vancouver Maroons
| Date | Away | Score | Home | Score | Notes |
|---|---|---|---|---|---|
| March 16 | Ottawa Senators | 1 | Vancouver Maroons | 0 | |
| March 19 | Ottawa Senators | 1 | Vancouver Maroons | 4 | |
| March 23 | Ottawa Senators | 3 | Vancouver Maroons | 2 | |
| March 26 | Ottawa Senators | 5 | Vancouver Maroons | 1 |
Ottawa Senators vs. Edmonton Eskimos
| Date | Away | Score | Home | Score | Notes |
|---|---|---|---|---|---|
| March 29 | Ottawa Senators | 2 | Edmonton Eskimos | 1 | (OT) |
| March 31 | Ottawa Senators | 1 | Edmonton Eskimos | 0 |
| Player | Team | GP | G | A | Pts |
|---|---|---|---|---|---|
| Punch Broadbent | Ottawa Senators | 8 | 6 | 1 | 7 |