Wildfires play a crucial role in the transformation of forest ecosystems and exert a significant influence on the global climate over geological timescales. Recent shifts in climate patterns and intensified human–forest interactions have led to an increase in the incidence of wildfires. These fires are characterized by their extensive coverage, higher frequency, and prolonged duration, rendering them increasingly destructive. To mitigate the impact of wildfires on climate change, ecosystems, and biodiversity, it is imperative to conduct systematic monitoring of wildfire progression and evaluate their environmental repercussions on a global scale. Satellite remote sensing is a powerful tool, offering precise and timely data on terrestrial changes, and has been extensively utilized for wildfire identification, tracking, and impact assessment at both local and regional levels. The Canada Centre for Mapping and Earth Observation, in collaboration with the Canadian Forest Service, has developed a comprehensive National Burned Area Composite (NBAC). This composite serves as a benchmark for curating a bi-temporal multi-source satellite image dataset for change detection, compiled from the archives of Sentinel-2, Sentinel-1, and ALOS-2 PALSAR-2. To our knowledge, this dataset is the inaugural large-scale, multi-source, and multi-frequency satellite image dataset with 20 m spatial resolution for wildfire mapping, monitoring, and evaluation. It harbors significant potential for enhancing wildfire management strategies, building upon the profound advancements in deep learning that have contributed to the field of remote sensing. Based on our curated dataset, which encompasses major wildfire events in Canada, we conducted a systematic evaluation of the capability of multi-source satellite earth observation data in identifying wildfire-burned areas using statistical analysis and deep learning. Our analysis compares the difference between burned and unburned areas using post-event observation solely or bi-temporal (pre- and post-event) observations across diverse land cover types. We demonstrate that optical satellite data yield higher separability than C-Band and L-Band Synthetic Aperture Radar (SAR), which exhibit considerable overlap in burned and unburned sample distribution, as evidenced by SAR-based boxplots. With U-Net, we further explore how different input channels influence the detection accuracy. Our findings reveal that deep neural networks enhance SAR’s performance in mapping burned areas. Notably, C-Band SAR shows a higher dependency on pre-event data than L-Band SAR for effective detection. A comparative analysis of U-Net and its variants indicates that U-Net works best with single-sensor data, while the late fusion architecture marginally surpasses others in the fusion of optical and SAR data. Accuracy across sensors is highest in closed forests, with sequentially lower performance in open forests, shrubs, and grasslands. Future work will extend the data from both spatial and temporal dimensions to encompass varied vegetation types and climate zones, furthering our understanding of multi-source and multi-frequency satellite remote sensing capabilities in wildfire detection and monitoring.