It was organized by CJ ENM, and broadcast through its music channel Mnet.

On September 21, 2023, CJ ENM announced that the event would be held in Japan at the Tokyo Dome.

It was also announced that the theme for this edition would be titled "One I Born" carrying the meaning of "'I' and 'MAMA', the only beings in the world with infinite possibilities, meeting and becoming a perfect 'One' through positive energy".

[3][4] Nominees would be evaluated based on data provided by Circle Chart, Spotify, and YouTube with verification performed by PwC.

[6][7] The listing for nominees were announced on October 19, 2023, through the Mnet Plus mobile application, with voting for Worldwide Icon of the Year and Worldwide Fans' Choice Top 10 happening from October 19 to November 20.