The winners (Limavady United) were promoted to the 2024–25 NIFL Championship.
The runners-up (Armagh City) were also promoted after winning the NIFL Championship play-off.
The two promoted teams were Coagh United (champions of the 2022–23 Ballymena & Provincial Football League) and Rathfriland Rangers (champions of the 2022–23 Northern Amateur Football League), increasing the number of teams by two.
The relegated team was Warrenpoint Town, who were relegated from the 2022–23 NIFL Championship due to a licensing issue (replacing the promoted team of Bangor).
The 2023–24 Ballymena & Provincial Football League champions (Strabane Athletic) faced the 2023–24 Mid-Ulster Football League champions (Oxford Sunnyside) in a two-legged play-off for the final place in the following season's NIFL Premier Intermediate League.