Community‐based participatory research (CBPR) is generally understood as a process by which decision‐making power and ownership are shared between the researcher and the community involved, bi‐directional research capacity and co‐learning are promoted, and new knowledge is co‐created and disseminated in a manner that is mutually beneficial for those involved. Within the field of Canadian geography we are seeing emerging interest in using CBPR as a way of conducting meaningful and relevant research with Indigenous communities. However, individual interpretations of CBPR's tenets and the ways in which CBPR is operationalized are, in fact, highly variable. In this article we report the findings of an exploratory qualitative case study involving semi‐structured, open‐ended interviews with Canadian university‐based geographers and social scientists in related disciplines who engage in CBPR to explore the relationship between their conceptual understanding of CBPR and their applied research. Our findings reveal some of the tensions for university‐based researchers concerning CBPR in theory and practice.