Compared to the Ice Hockey World Championship in 1931 , there was once again a different mode of execution. Twelve teams took part in this World Cup. While defending champions Canada and vice world champions USA qualified directly for the intermediate round, the remaining ten teams played out the remaining six intermediate round participants in three preliminary round groups. The eliminated teams played placement games. The eight teams in the intermediate round played in two groups with four teams each, the four participants in the semi-finals. The failed intermediate round teams played for places.
At this 7th Ice Hockey World Championship, the Canadians' winning streak broke . After winning six titles in six title fights, they suffered their first ever World Cup defeat in the final against the USA ; for the USA it was the first title win and to date the only one in a pure world championship. Czechoslovakia came third at this World Cup, one year after their disappointing performance at the European Championships last year, officially celebrating their sixth European Championship title.