The season, named "Señor Fabián O'Neill", started on 4 March 2023 and ended on 27 January 2024.
[2][3][4] Miramar Misiones were the champions, claiming their fourth title in the second tier with a 2–0 victory over Albion on the last round of the regular season on 3 December 2023.
Progreso, as league runners-up, were also promoted to Primera División along with Miramar Misiones.
[2] In the regular stage, the 14 teams played each other twice under a double round-robin format for a total of 26 matches.
Rampla Juniors won 2–1 on aggregate and promoted to the Uruguayan Primera División.