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Players could be selected if they had one to four years of U Sports eligibility remaining, were in good academic standing, were planning to return to school the following year, and completed the CPL's draft declaration form by December 5, 2023. On December 6, the CPL released the list of 203 athletes who declared for the draft. Players who were selected can sign a full professional contract or a U Sports development contract, which allows them to return to university for the following season, without losing their eligibility.
Teams were able to retain the rights to previously drafted players who had signed U Sports contracts. In total, seven players were retained by their CPL clubs.
Each CPL team made two selections in the draft with selections made in the reverse order of the previous season's standings, including playoffs and final standings. Teams may trade selections; on draft day, Vancouver FC traded the 10th overall selection to Cavalry FC in exchange for the 15th overall selection and future considerations. These future considerations eventually became Canadian winger Ben Fisk who transferred from Cavalry to Vancouver on January 9, 2024.
Player selection
*
Denotes player who has signed a professional contract for the 2024 season
^
Denotes player who has signed a developmental contract for the 2024 season
^ Vancouver FC's second round pick (10th overall) went to Cavalry FC as a result of a trade on December 14, 2023 in exchange for Cavalry's second round pick (15th overall) and future considerations (Ben Fisk).