Statins are prescribed to treat dyslipidemia (abnormal amount of lipids such as cholesterol and/or fat in the blood) and reduce cardiovascular disease (CVD) risk. This study describes the CVD risk profile of Canadians aged 20 to 79, compares current treatment patterns with guideline recommendations, and investigates the population health impact of statin treatment. The baseline CVD risk of the Canadian population aged 20 to 79 was estimated by applying population-weighted risk factor data from the 2007 to 2011 Canadian Health Measures Survey (CHMS) to the Framingham Risk Score. Estimates of statin effectiveness from the literature were applied to baseline risk to assess the number of CVD events avoided owing to actual (CHMS-reported) and recommended (2012 Canadian Cardiovascular Society guidelines) statin treatment. An estimated 2.8 million Canadian adults (about 1 in 10) were treated with statin drugs. The mean 10-year CVD risk of those treated was 27%. Assuming optimal adherence, it was estimated that statin treatment avoided around 18,900 CVD events annually and yielded a number-needed-to-treat (average number of patients treated to prevent one additional CVD event) of 15 over 10 years. In comparison, 6.5 million Canadian adults (about 1 in 4) were recommended for treatment under the 2012 guidelines. The mean 10-year CVD risk of those recommended for treatment was 24%, which translates into a number-needed-to-treat of 17 over 10 years, or approximately 38,600 CVD events avoided annually. The largest gaps in treatment and potential CVD events avoided were among people at high and intermediate risk for CVD. Canadians' CVD risk could be lessened with enhanced targeting of statin treatment to individuals at high and intermediate risk. Such a strategy would likely require additional investments.