Plant salt tolerance is controlled by various physiological processes such as water and ion homeostasis, photosynthesis, and cellular redox balance, which are in turn controlled by gene expression. In the present study, plants of six canola cultivars (DGL, Dunkled, Faisal Canola, Cyclone, Legend, and Oscar) were evaluated for salt tolerance by subjecting them to 0 or 200 mM NaCl stress. Based on growth, cultivars DGL, Dunkled, and Faisal Canola were ranked as salt tolerant, while cultivars Cyclone, Legend, and Oscar were ranked as salt-sensitive ones. Differential salt tolerance in these canola cultivars was found to be associated with a relatively lower accumulation of Na+ and greater accumulation of K+ in the leaves, lower oxidative damage (MDA), and better antioxidative defense system (Superoxide dismutase, SOD; peroxidase, POD, and catalase, CAT). Cultivar Oscar was the poorest to discriminate Na+ and K+ uptake and accumulation in leaves and had poor antioxidant potential to scavenge ROS. Salt stress did not affect the structural stability of photosystem-II (PSII) till three weeks, thereafter it caused a significant decrease. Salt stress increased the performance index (PIABS) by increasing the density of active reaction centers in Oscar. Salt stress decreased the antenna size thereby lowering the absorption and trapping energy flux, and maintaining the electron transport with an increase in heat dissipation. This may represent a potential mechanism to cope with salt stress. Transcriptome analysis of salt-sensitive cultivar Oscar further revealed that salt stress down-regulated DEGs related to hormonal signal transduction pathways, photosynthesis, and transcription factors, while DEGs related to the biosynthesis of amino acid and ion transport were up-regulated. In conclusion, salt tolerance in canola cultivars was associated with ion exclusion and maintenance of photosynthesis. Salt stress sensitivity in cultivar Oscar was mainly associated with poor control of ion homeostasis which caused oxidative stress and reduced photosynthetic efficiency.