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The medal round of the Ice Hockey competition at the 1980 Winter Games was not a single elimination round. The composite record against each of the other 3 teams in the medal round was used to determine the medal winners. Because Finland's record in the medal round was 0-2-1 for 1 point, they did not win a medal.

Had Finland defeated the United States in the final game of the tournament, the Soviet Union would have won gold, with a record of 2-1-0 for 4 points, and the United States and Finland would have tied for the silver with a record of 1-1-1 for 3 points.

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