Vancouver Canucks defenseman Quinn Hughes and Chicago Blackhawks forward Dominik Kubalik were the other finalists for the award. Hughes finished with 1,337 points (53 first-place votes), and Kubalik had 554 points (no first-place votes).
Hughes, a 20-year-old defenseman, led NHL rookies in assists (45), points (53) and power-play points (25) in 68 games, and he was second in average ice time per game (21:53) behind Edmonton Oilers defenseman Ethan Bear (21:58).
Kubalik, a 25-year-old forward, led NHL rookies in goals (30), even-strength points (38) and even-strength goals (26), and he was third with 46 points in 68 games.
Wayne Gretzky presented the Calder Trophy.
"Honestly, to have Wayne Gretzky give it to me, that was pretty cool," Makar said. "I've never met him before, so that was a pretty surreal moment for me."
The 2020 NHL Awards had been scheduled for June 18 in Las Vegas but were postponed on March 25 due to concerns surrounding the coronavirus.
2020 Calder Trophy voting (1st-2nd-3rd-4th-5th)
1. Cale Makar, D, COL 1,538 (116-54-0-0-0)
2. Quinn Hughes, D, VAN 1,337 (53-111-6-0-0)
3. Dominik Kubalik, F, CHI 554 (0-2-75-48-21)
4. Adam Fox, D, NYR 430 (1-1-45-52-32)
5. Elvis Merzlikins, G, CBJ 215 (0-1-17-32-27)
6. Mackenzie Blackwood, G, NJD 164 (0-1-16-15-32)
7. Victor Olofsson, F, BUF 96 (0-0-5-14-29)
8. John Marino, D, PIT 53 (0-0-4-5-18)
9. Nick Suzuki, F, MTL 17 (0-0-1-2-6)
10. Ethan Bear, D, EDM 9 (0-0-1-1-1)
11. Denis Gurianov, D, DAL 4 (0-0-0-1-1)
12. Ilya Samsonov, G, WSH 2 (0-0-0-0-2)
13. Matt Roy, D, LAK 1 (0-0-0-0-1)
NHL.com staff writer Amalie Benjamin contributed to this report