A total of eight teams played in the tournament, with players born on or after 1 January 2005 eligible to participate.

Same as previous editions held in even-numbered years, the tournament will act as the UEFA qualifiers for the FIFA U-20 World Cup.

The top five teams of the tournament will qualify for the 2025 FIFA U-20 World Cup in Chile as the UEFA representatives.

Italy were the defending champions, having beaten Portugal 1–0 in the 2023 final, but were eliminated in the semi-finals by Spain.

[2][3] Northern Ireland was appointed as the host for the tournament by the UEFA Executive Committee during their meeting on 19 April 2021 in Montreux, Switzerland.