The tournament featured three rounds of play. The teams that finished tenth and eleventh in the standings played a single play-in game to determine the final qualifier for the playoffs. In the quarterfinals, the first and tenth seeds, the second and ninth seeds, the third seed and eighth seeds, the fourth seed and seventh seeds and the fifth seed and sixth seeds played a best-of-three series, with the winners advancing to the semifinals. The lowest two remaining seeds played a play-in game to determine the last qualifier for the 'final four'. 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 1995 NCAA Division I Men's Ice Hockey Tournament.