Incumbent Democratic State Controller John Chiang was term-limited and ineligible to run for re-election to a third term in office and instead ran successfully for California State Treasurer.

Under California's nonpartisan blanket primary law, all candidates appear on the same ballot, regardless of party.

In the primary, Republican Ashley Swearengin and Democrat Betty Yee finished first and second, respectively.

The third-place finisher, Democrat John Pérez, initially called for a recount in 15 counties after official results showed him trailing Yee by 481 votes; however, he ultimately conceded to Yee more than a month after the primary.

As of 2025, this election, alongside the concurrent Secretary of State election, is the last time in which a statewide California race between a Democrat and a Republican was decided by single digits; and in which Mono, San Diego, San Luis Obispo, and Ventura Counties voted for the Republican in a statewide race.