The position of President of the Treasury Board was created as a ministerial position in the Canadian Cabinet in 1966 when the Treasury Board became a fully-fledged department. From 1867 to 1966 the Treasury Board had been part of the Department of Finance.

Technically, the Treasury Board is a Cabinet committee of the Queen's Privy Council for Canada. It is responsible for managing the government's fiscal and administrative responsibilities including management of the civil service and oversight of expenditures.

The President of the Treasury Board chairs the Board and is responsible for implementing the decisions of Cabinet by allocating the necessary resources.

Aside from the President, members of the Treasury Board include the Minister of Finance, Minster of Industry, the President of the Queen's Privy Council for Canada, Minister of Public Works and Government Services and the Minister of National Revenue among other ministers.

See List of Canadian Presidents of the Treasury Board