During the 1970s the team grew in popularity and talent. The annual competition for the Purple Puck became the focal point of the Indiana-Purdue rivalry on the ice.

In 1971 the Hoosiers won the first Purple Puck Trophy with a 9-5 victory. That victory started almost 15 years of competition and would later involve Illinois and Miami of Ohio.

On March 2nd, 1972 Indiana won the first of many championships with a 2-1 victory over the Purdue Boilermakers in the Big Ten Tournament. The Big Ten Tournament would disappear after only a few years of competition.

During the 1970s the Hoosiers enjoyed the talented exploits of Dan Vass who has his name listed on 3 of the Hoosiers Career scoring charts. From 1971-1975 Vass amassed 80 goals, 68 assists for a total of 148 points. Rob Perry was another Hoosier who hit the record books. Perry's totals 1972-1976 were 61 goals, 66 assists for 127 points. Also the player-coach of the Hoosiers from 1971-1974 was Chuck Perry, who finished his playing career with 109 points and his coaching career third in the coaching records books with a 34-23-0 mark for a 59.6 winning percentage.