[5] The office of President is not term-limited; however, despite being eligible to serve a third term, Guðni announced in his New Year's address to the Icelandic people on 1 January 2024 that he would not stand for re-election again.

Presidential debates have featured Iceland's membership in NATO, military aid for Ukraine, the possible sale of the state energy firm Landsvirkjun and the use of veto powers by the Presidency.

Questions were also raised on whether Katrín Jakobsdóttir's background as a politician and prime minister would affect her tenure in office, to which she said that she "can rise above party politics".

[10] Halla Tómasdóttir ran her campaign on issues such as the effects of social media on the mental health of youth, tourism development and the role of artificial intelligence.

[55] After her victory was confirmed, Halla Tómasdóttir was congratulated by runner-up and former prime minister Katrín Jakobsdóttir.