Dye began his professional ice hockey career with the Toronto St. Patricks in 1919. He became the NHL's scoring champion in the 1922–23 season, a feat he repeated during the 1924–25 season. In 1926, the St. Patricks sold Dye's contract to the Chicago Black Hawks. In 1927, Dye suffered a major leg injury during training camp, and did not return to play until the last 10 games of that season. Following that season, he was traded to the New York Americans. Dye's production dropped significantly as a result of his leg injury, and was reassigned to the Americans' minor league affiliate, the New Haven Eagles in 1929. The next year, Dye signed as a free agent with the first professional team he played for, since renamed the Maple Leafs. Dye played six games with the Maple Leafs before he retired from the sport.