Introduced in 1945–46, the trophy was named in memory of Lance Todd, the New Zealand-born player and administrator, who was killed in a road accident during the Second World War.[2] After Todd's death a fund, the Lance Todd memorial Trophy Fund, was established by Australian journalist and rugby league official Harry Sunderland.[3] The trophy's winner is selected by the members of the Rugby League Writers' Association present at the game. Until 1957 there was no permanent trophy, instead the winner was given a cash prize with which to buy themselves a memento.[3] In 1956 the Red Devils Association, the official body representing ex-Salford players, decided to pay for a permanent trophy to be awarded to the winner and the first recipient of the new trophy was Jeff Stevenson in 1957.[3] The trophy is presented at a celebratory dinner at the Salford Community Stadium, home of the Salford Red Devils. As of 2023, no Salford player has won this award.[1]
The first winner of the trophy was Wakefield TrinityCentre, Billy Stott in 1945–46.[1][4]St. Helens' Sean Long made history in 2006 becoming the first player to win the Lance Todd Trophy three times, having won in 2001 and 2004. Five players have won the trophy twice: Warrington's Gerry Helme in 1949–50 and 1953–54; Wigan's Andy Gregory in 1987–88 and 1989–90; and Martin Offiah in 1991–92 and 1993–94; St. Helens' Paul Wellens in 2007 (jointly) and 2008; Hull FC's Marc Sneyd in 2016 and 2017. Sneyd and Wellens are the only players to win the award in consecutive finals.
Halifax's former Australian international fullback Graham Eadie and Wigan's 1984-85 Australian import stand-off Brett Kenny are the only players to win both the Lance Todd Trophy and the Clive Churchill Medal as the player of the match in the Sydney Premiership Grand Final. Eadie won the Lance Todd in 1986–87 and was (retrospectively) twice awarded the Churchill after Manly-Warringah's premiership wins in 1976 and 1978 while 1984–85 trophy winner Kenny was retrospectively awarded the Churchill for Parramatta's Grand Final wins in 1982 and 1983.