Abstract Satellite data are increasingly used to provide information to support forest monitoring and reporting at varying levels of detail and for a range of attributes and spatial extents. Forests are dynamic environments and benefit from regular assessments to capture status and changes both locally and over large areas. Satellite data can provide products relevant to forest science and management on a regular basis (e.g. annually) for land cover, disturbance (i.e. date, extent, severity, and type), forest recovery (e.g. quantification of return of trees following disturbance), and forest structure (e.g. volume, biomass, canopy cover, stand height), with products generated over large areas in a systematic, transparent, and repeatable fashion. While pixel-based outcomes are typical based upon satellite data inputs, many end users continue to require polygon-based forest inventory information. To meet this information need and have a spatial context for forest inventory attributes such as tree species assemblages, we present a new work-flow to produce a novel spatially explicit, stand-level satellite-based forest inventory (SBFI) in Canada applying image segmentation approaches to generate spatially unique forest stands (polygons), which are the fundamental spatial unit of management-level inventories. Thus, SBFI offers spatial context to aggregate and generalize other pixel-based forest data sets. Canada has developed a National Terrestrial Ecosystem Monitoring System (NTEMS) that utilizes medium spatial resolution imagery, chiefly from Landsat, to annually characterize Canada’s forests at a pixel level from 1984 until present. These NTEMS datasets are used to populate SBFI polygons with information regarding status (e.g. current land cover type, dominant tree species, or total biomass) as well as information on dynamics (e.g. has this polygon been subject to change, when, by what, and if so, how is the forest recovering). Here, we outline the information drivers for forest monitoring, present a set of products aimed at meeting these information needs, and follow to demonstrate the SBFI concept over the 650-Mha extent of Canada’s forest-dominated ecosystems. In so doing, the entirety of Canada’s forest ecosystems (managed and unmanaged) were mapped using the same data, attributes, and temporal representation. Moreover, the use of polygons allows for the generation of attributes such as tree species composition, and total biomass and wood volume in a stand-scale format familiar to landscape managers and suitable for strategic planning. The data, methods, and outcomes presented here are portable to other regions and input data sources, and the national SBFI outcomes for Canada are available via open access.