The award was named for John B. Sollenberger in 1955. Sollenberger was a long-time contributor to the league as manager and president of the Hershey Bears and former Chairman of the Board of Governors. The award was originally named after Wally Kilrea, who held the AHL's single-season scoring record when the award was instituted 1947–48. That season, the award was renamed in honour of its first recipient, Carl Liscombe, who broke Kilrea's scoring record. The equivalent award in the NHL is the Art Ross Trophy.