TOR Sceptres

On August 29, 2023, it was announced that Toronto would be home to one of the PWHL's first six franchises. This ensured the continuation of professional women's hockey in the city after the folding of the Toronto Six and the Premier Hockey Federation earlier that summer—the Six were that league's final champions. The PWHL announced on September 1 that Gina Kingsbury, the former vice president of hockey operations at Hockey Canada and general manager of the Canadian women's national team, would be the PWHL Toronto's general manager. On September 15, Troy Ryan, the head coach of the Canadian women's national team, was announced as the team's first head coach.

Toronto's first three players—Canadian national team members Sarah Nurse, Renata Fast and Blayre Turnbull—were signed to three-year deals on September 5, 2023. The team selected 15 players at the inaugural PWHL draft on September 18; the team's first pick, at second overall, was veteran Canadian national team defender Jocelyne Larocque. Ahead of the start of the inaugural season, Turnbull was named team captain, with Fast and Larocque to serve as assistant captains.

In November 2023, it was announced that the team's colours would be blue, black, and white. The same month, it was announced that the Mattamy Athletic Centre in the old Maple Leaf Gardens would become the team's home.

On January 1, 2024, Toronto hosted the first ever PWHL game at Mattamy, with visiting PWHL New York posting a 4–0 victory over Toronto. The teams faced each other again on January 5, with Toronto securing its first win by a score of 3–2; Natalie Spooner scored the first goal in team history in the second period. On February 16, Toronto hosted its first game at Scotiabank Arena against PWHL Montreal, a match dubbed by the league as "The Battle on Bay Street". The game set a league and women’s hockey attendance record with a sellout crowd of 19,285, beating the previous record of 18,013 set at the 2013 IIHF Women's World Championship. Two months later, on April 20, Montreal hosted Toronto at the Bell Centre, selling out the arena and setting another new attendance record at 21,105 in a game known as "The Duel at the Top" because the two teams were vying for first place.

Toronto became the first team to clinch a playoff spot, and clinched first overall on May 1. Spooner led the league in both goals and points. On April 30, 2024, it was announced that PWHL Toronto would relocate from Mattamy Athletic Centre to Coca-Cola Coliseum to host its playoff games. Toronto elected to play PWHL Minnesota in the first round of the playoffs. & hosted them for their inaugural playoff game on May 8; Toronto won 4–0 in front of a sold-out crowd. Despite winning the first two games at home, Toronto went on to lose three straight and the series and were eliminated from playoff contention.

After the season, Spooner was named the league's first winner of the Billie Jean King MVP award; she was also named the league's top forward. Kristen Campbell won top goaltender honours, while Troy Ryan was named coach of the year.

On September 3, 2024, Coca-Cola Coliseum was officially announced as PWHL Toronto's primary venue for the 2024–25 PWHL season.