Throughout the Proterozoic Era, sedimentary organic carbon burial helped set the pace of global oxygenation and acted as a major modulator of atmospheric CO2 and climate. Although Proterozoic rocks generally contain low concentrations of organic matter (OM), there are key exceptions to this rule, including the relatively OM-rich Arctic Bay shales from Baffin Island, Canada (Bylot Supergroup, Borden Basin, ∼1.05 Ga). The mechanisms driving elevated OM concentrations in these and other Proterozoic shales remain poorly understood. In the Mesozoic and Cenozoic, organic matter sulfurization can be a major driver of enhanced OM burial across a range of redox conditions comparable to those inferred for many Proterozoic environments. Therefore, in this study, we evaluate the role of sulfurization in driving OM preservation in the Mesoproterozoic Borden Basin and discuss its relevance to Proterozoic systems in general. We present the first evidence for syngenetic-to-early-diagenetic OM sulfurization in a Proterozoic basin, which begins to fill a several-billion-year gap in our record of organic S across Earth history. We find that OM sulfurization was particularly extensive in shales from a relatively shallow-water section (Alpha River) but less extensive in shales deposited in deeper water (Shale Valley), which is consistent with models that infer sulfidic ‘wedges’ or O2-minimum-zone-type structures on shelf margins at least intermittently at this time. At the shallower site, organic S and pyrite are similarly 34S-depleted and thus likely formed at roughly the same time near the sediment–water interface under conditions previously interpreted to have been ferruginous to intermittently sulfidic. In contrast, at the deeper-water site, large S-isotope differences between pyrite and organic S along with low apparent OM sulfurization intensities indicate that pyrite formation was favored over OM sulfurization during early sedimentation under variable but primarily ferruginous conditions. Although Mesoproterozoic biomass can be substantially sulfurized, indicators of sulfurization intensity are not correlated with OM concentrations, and therefore sulfurization does not appear to have been the primary driver of enhanced OM concentrations in Arctic Bay Formation shales. The link between sulfurization and total OM preservation may have been modulated during the deposition of Arctic Bay Formation shales by differences in iron availability, nutrient cycling, and particle dynamics in the Mesoproterozoic.