| Tourney Name: | Air Canada Cup |
| Year: | 1981 |
| Dates: | April 14 – 19, 1981 |
| Num Teams: | 12 |
| Venues: | Halifax Metro Centre in Halifax, NS |
| Type: | other |
| Winners: | Lions du Lac St-Louis |
| Second: | Kitchener Greenshirts |
| Third: | Antigonish Novas |
| Mvp: | Dale Derkatch |
| Scoring Leader: | Normand Lacombe |
| Prevseason: | 1980 |
| Nextseason: | 1982 |
The 1981 Air Canada Cup was Canada's third annual national midget 'AAA' hockey championship, which was played April 14 – 19, 1981 at the Halifax Metro Centre in Halifax, Nova Scotia. The Lions du Lac St-Louis won their first national championship, defeating the Kitchener Greenshirts in the gold medal game. The Antigonish Novas from Nova Scotia won the bronze medal. Future National Hockey League players competing in this tournament were Lyndon Byers, Bobby Dollas, Normand Lacombe, Gary Leeman, Darryl Reaugh, Mike Tomlak and Brad Shaw.
| width=20 | Result | Team | width=150 | Branch | City |
|---|---|---|---|---|---|
| Lions du Lac St-Louis | Dollard-des-Ormeaux, QC | ||||
| Kitchener Greenshirts | Kitchener, ON | ||||
| Antigonish Novas | Antigonish, NS | ||||
| 4 | Current River Comets | Thunder Bay, ON | |||
| 5 | Wilcox, SK | ||||
| 6 | Gloucester Rangers | Gloucester, ON | |||
| 7 | Calgary Northstars | Calgary, AB | |||
| 8 | North River Atlantic Insulators | North River, PE | |||
| 9 | M.N.S. Stars | Winnipeg, MB | |||
| 10 | Saint John Pepsi | Saint John, NB | |||
| 11 | Corner Brook Royals | Corner Brook, NL | |||
| 12 | Prince George Kings | Prince George, BC |