Starting with the 1981 â `` 82 campaign , when the league changed its playoff format so that the two teams meeting in the Stanley Cup finals could no longer come from the same conference , the trophy was presented to the Wales Conference playoff champions , and since the 1993 â `` 94 season , the Eastern Conference playoff champions have won the award . The Prince of Wales Trophy , also known as the Wales Trophy , is an award presented by the National Hockey League ( NHL ) to the Eastern Conference ( formerly the Wales Conference ) playoff champions , prior to the final series of games for the Stanley Cup . Named for Prince Edward , Prince of Wales ( later King Edward VIII , and then Duke of Windsor ) , the cup was first presented in the 1925 â `` 26 NHL season to the champion of the first game in Madison Square Garden and then subsequently presented to the champion of the NHL playoffs ( including the previous two seasons ) ; however , the trophy has been awarded for eight different accomplishments throughout its history , including for the NHL regular season champions , the American Division regular season champions , the East Division season champions , the Wales Conference regular season champions , the Wales Conference playoff champions , and the Eastern Conference playoff champions .