The tournament featured four rounds of play. The teams that finished in the top six in conference standings were allowed to choose their opponents in descending order for the first round. Alaska–Fairbanks was an affiliate member and allowed to compete in the conference tournament as the lowest seed. The first seed chose to play the eleventh seed, the second seed chose to play the tenth seed, third seed chose to play the ninth seed, the fourth seed chose to play the eighth seed, the fifth seed chose to play the seventh seed and the sixth seed played the twelfth seed in best-of-three series, with the winners advancing to the second round. The highest two remaining seeds received byes into the semifinal round while the remaining four teams competing in single-game second-round series. The highest and lowest non-advancing teams were matched against one another for one game while the remaining two teams competing in the other game. In the semifinals the higher automatic qualifier played the lower seed advancing from the second round while and second-highest and second-lowest seeds played each in a single game to determine which teams advanced to the finals. The tournament champion received an automatic bid to the 1993 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
Championship: Lake Superior State † indicates conference regular season champion * indicates conference tournament champion ^ Alaska-Fairbanks is an affiliate member and its games do not count towards the conference standings