The Rural Municipality of Canwood No. 494 was firstly formed as Rural Municipality (RM) Thompson No. 494 from January 1, 1913 until April 29, 1916 before changing names to Canwood No. 494. It is located in the north central region of the province of Saskatchewan, west of Prince Albert, and completely surrounds the First Nations Indian Reserve of Ahtahkakoop No. 104, as well as partially surrounding the First Nations Indian Reserve of Mistawasis No. 183 and the RM of Big River No.