The Dynasty Fantasy Hockey League (DFHL) was founded on July 19, 2023. Sixteen (16) teams competed in four divisions during the inaugural year. Weekly play consisted of teams dressing 4 Left Wingers, 4 Centres, 4 Right Wingers, 6 Defencemen, and 2 Goalies and competed in a 26 week schedule. A Minor Leauge system was also introduced. Weekly play consisted of teams dressing 2 Left Wingers, 2 Centres, 2 Right Wingers, 4 Defencemen, and 1 Goalie and competed in a 26 week schedule. The Original Sixteen franchises were as follows:

Dean Eastman (AVIATORS)
Jeff Bradshaw (BLUE JAYS)
Jacob Dionne (BOUNTY HUNTERS)
Joshua Graham (EXCALIBUR)
Jean Davignon (GLADIATORS)
David Murphy (ICE DRAGONS)
Chris Savard (PRIVATEERS to ICE DRAGONS)
Greg Nolan (LIBERTY)
Glenn Austen (RANGERS)
Richard Tardif (RUFFIANS)
Dan Hebert (RUSTLERS)
John Baird (TRAVELLERS)
Lorne Taillon (TRIUMPH)
Pat Shane (VIPERS)
Kelly Boisvenue (WOLFPACK)
Mark Des Cotes (WYVERNS)

Prior to the start of the season, the ICE DRAGONS announced that they would be leaving the DFHL.

On September 24, 2022, ownership of the ICE DRAGONS franchise was awarded to:

Charles Plouffe (TERRIERS)

Former ICE DRAGONS owner David Murphy passed away on November 13, 2022. The Privateers changed their name to the Ice Dragons in his memory.

No changes to league structure.