Holcomb was eligible to run for re-election to a second term in office, and announced his intention to do so on July 13, 2019, alongside his lieutenant governor, Suzanne Crouch.

[1] He faced Democrat Woody Myers, the former health commissioner of Indiana (and later, of New York City) and his running mate, Linda Lawson, the former minority leader of the Indiana House of Representatives, in addition to Libertarian Donald Rainwater, a U.S. Navy veteran and his running mate William Henry.

Myers also became the first major party candidate to receive fewer than one million votes since Republican David McIntosh in 2000.

[4] The election was also notable for the strong performance of Libertarian candidate Rainwater, who finished in second place, behind Holcomb and ahead of Myers, in over one-third of Indiana's counties, 33 out of 92.

This is also one of the strongest performances for a third-party candidate in a statewide election in Indiana, with Libertarian nominee Donald Rainwater receiving over 11% of the total vote.