He was selected by the Packers in the ninth round (77th overall) of the 1941 N.F.L. Draft. He was the first Packer to rush for 1,000 yards in a season and the third player ever in the N.F.L. to accomplish this feat. Canadeo rushed for 1,052 yards in 1949, as the Packers struggled to a 2-10 record. In addition to his accomplishments as a running back, Canadeo also recorded nine career interceptions on defense and served as the team's punter.
Canadeo is one of only five Green Bay Packers to have his number (3) retired by the team, which was done immediately upon his retirement in 1952. After his playing career, Canadeo continued his association with the team as a broadcaster and member of the organization's executive committee. He played a small part in helping Jack Vainisi reassure Vince Lombardi in 1959 that the transition from New York City to Green Bay would be comfortable for his family. "The Gray Ghost of Gonzaga," was inducted into the Pro Football Hall of Fame in 1974. He died in Green Bay in 2003 at the age of 84.