The Centennial men's basketball team was a dominating presence in the OCAA during the 1983-84 season, finishing on top of the standings with a 21-3 record. Led by the team's top scorer Eric Morgan, averaging 14.4 points per game, Centennial entered into the OCAA playoffs as the tournament favourite. The team defeated Algonquin College in the quarterfinals 78-70 and then easily won their semi-final match against St. Clair with an 88-60 win. The Colts faced Humber in the finals where Centennial won a best-of-three series, 2-1 earning them a spot in the Canadian National Championships.
The 1984 National Championships were hosted by Dawson College in Montreal, Quebec, hosting the top basketball teams in the country. Centennial opened the tournament strong, defeating Champlain College with an 81-63 win. During the semi-final round, the Colts were challenged by Capilano but managed to walk away with a 70-66 win, punching their ticket to the finals.
The gold medal matchup saw the Colts compete against SAIT. With another hard-fought game, Centennial was victorious and defeated SAIT,
57-54, capturing the CCAA gold medal and becoming the first team in college history to win a National Championship.