Matthew de Grood is charged with first-degree murder after four men and a woman were stabbed to death at a house party that was being held last month to mark the end of the university school year.
De Grood, who is 22 and the son of a senior Calgary police officer, had been ordered to undergo a 30-day assessment to determine whether he was mentally fit to stand trial.
Court heard de Grood will remain in psychiatric care under a mental health certificate.
Police have not said what they think motivated the attack.
They have said de Grood was invited to the party April 15 and mingled with guests before violence broke out.
Jordan Segura, Kaiti Perras, Josh Hunter, Zackariah Rathwell and Lawrence Hong were killed.