The Pakistan Cricket Board established the PSL with five teams on September 9, 2015. The league officially started on February 4, 2016, in the United Arab Emirates, after being planned for several years and going through two unsuccessful attempts before that.
Bakhtawar Bhutto-Zardari, the former Pakistani President’s daughter, and Sheikh Nahyan bin Mubarak Al Nahyan served as the opening ceremony’s emcees. The PSL consists of two rounds of robin play. The top four teams advance to the Playoffs, where they play each other twice.
In the group stage, a win gets two points, a loss gets one, and a loss gets nothing. After both teams have played their allotted number of overs, a super over is used to decide who will win the match if the scores are tied.
Pakistan Super League Winner List and Runner-Ups :
Islamabad United is currently the PSL’s most successful team, having won two trophies. In 2016, they won the tournament for the first time, and in 2018, they won it again. Misbah Ul Haq, one of Pakistan’s greatest cricketers, led his team to both of these victories as captain.
| Year | Winner | Runner Up | Final Venue |
| 2016 | Islamabad United | Quetta Gladiators | Dubai International Cricket Stadium, Dubai |
| 2017 | Peshawar Zalmi | Quetta Gladiators | Gaddafi Stadium, Lahore |
| 2018 | Islamabad United | Peshawar Zalmi | National Stadium, Karachi |
| 2019 | Quetta Gladiators | Peshawar Zalmi | National Stadium, Karachi |
| 2020 | Karachi Kings | Lahore Qalandars | National Stadium, Karachi |
| 2021 | Multan Sultans | Peshawar Zalmi | Sheikh Zayed Cricket Stadium, Abu Dhabi |
| 2022 | Lahore Qalandars | Multan Sultans | Gaddafi Stadium, Lahore |
Pakistan Super League Prize Money 2023 :
The league’s stature and quality have increased with each season, which has also led to an increase in the total amount of prize money. Lahore Qalandars, who recently won the PSL 2022 championship, has been awarded PKR 80 million, or approximately INR 3.40 crore.
According to reports, The prize money of PSL 2023 will be PKR 120 Million.
The PSL 2022 Award Winners are listed below, along with their prize amounts:
| Award | Winner | Prize amount |
| Winners | Lahore Qalandars | PKR 80 million (INR 3.40 crore approx.) |
| Runners-up | Multan Sultans | PKR 32 million (INR 1.36 crore approx.) |
| The batter of the tournament | Fakhar Zaman | PKR 3.5 million (INR 14.86 lakh approx.) |
| Bowler of the tournament | Shadab Khan | PKR 3.5 million (INR 14.86 lakh approx.) |
| Wicketkeeper of the tournament | Mohammad Rizwan | PKR 3.5 million (INR 14.86 lakh approx.) |
| Fielder of the tournament | Khushdil Shah | PKR 3.5 million (INR 14.86 lakh approx.) |
| All-rounder of the tournament | Khushdil Shah | PKR 3.5 million (INR 14.86 lakh approx.) |
| Spirit of cricket award | Mohammad Rizwan | PKR 3.5 million (INR 14.86 lakh approx.) |
| Emerging Player of the tournament | Zaman Khan | PKR 3.5 million (INR 14.86 lakh approx.) |
| Player of the Tournament | Mohammad Rizwan | PKR 3 million (INR 12.74 lakh approx.) |