The FTb was Canon's first mass market FD lens capable body launched for a mere $99 (though more like $500+ current dollars) March 1971 simultaneously with the original mechanical F1 during the early 1970's. At 1lb 10oz (740g) it was hardly a precursor of the very plastic AE's to appear in just a very few years. Though the FTb offered full aperture match needle dynamic 12% central rectangular spot metering cross coupled with all the new FD lenses, it is fully compatible with FL lenses employing their legacy "stopped-down metering" method.

The FTb was aimed at the serious amateur market offering many of the F-1's features but sans interchangeable finder screens, prisms, a titanium focal plane shutter or a motor drive coupling. It does have a 10 second self-timer, depth of field preview, mirror lock-up and a rubberized horizontal travel cloth focal plane shutter. The FTb employs the early Canon proprietary design hot shoe.

In 1973 the FTb was updated to the FTb(N) model body: Significantly shutter speed information was added to the viewfinder display in the lower left corner; the styling of the stop-down lever was altered to that of the F-1; cosmetic changes occurred to the PC connector, shutter speed dial perimeter. The film advance lever acquired a plastic covering. The FTb reached the one million unit sales mark in only 3 years.