The 1981 CFL draft composed of seven rounds where 81 Canadian football players were chosen from eligible Canadian universities and Canadian players playing in the NCAA. A total of 18 players were selected as territorial exemptions, with every team making at least one selection during this stage of the draft. Through a trade with the Saskatchewan Roughriders, the Calgary Stampeders selected first overall in the draft.

Saskatchewan Roughriders Eugene Larocque DT Utah

Toronto Argonauts Hazen Carinci DB Simon Fraser

Toronto Argonauts Dan Ferrone G Simon Fraser

Toronto Argonauts Bernie Pickett TB Wilfrid Laurier

Toronto Argonauts Bob Bronk TB Queen's

Ottawa Rough Riders John Park TE Bowling Green

Ottawa Rough Riders Ian Beckstead TE Richmond