Yes, but it will take some time, and you’ll never be 100% free of it. A conviction for impaired driving is very serious, and it will affect you in a number of ways, all of them negative.
First of all, your license could be suspended, and you could face fines and even jail time if it’s not your first conviction. The next time you renew your auto insurance (and for the next three years), the conviction will make you a high-risk driver and so you’ll have to get insurance in the pricier high-risk market. There will be a minimum 50% surcharge for the conviction itself, and depending on the type of license suspension, that could also impact your star rating. Don’t be surprised if you pay double what you’re paying now.
The insurance implications of an impaired driving conviction go away after three years. What remains is the conviction on your permanent criminal record, which will affect your ability to get certain jobs or volunteer positions, limit your freedom to travel outside of Canada etc. The good news is that five years after you pay your fine, you can apply for a pardon, so that the conviction will be hidden if someone runs a police check on you.
Most pardons are approved, so that means you could be almost completely free of the negative consequences of the conviction five years after paying the fine. After that, the conviction would only affect you if you are once again convicted of a crime. Having prior convictions could still affect your sentencing, and sadly that never goes away.