It was released on 21 April 2023 through Asylum and Atlantic Records as the second single from his fifth studio album, − ("Subtract").

[1] Sheeran announced the song alongside the album on 1 March 2023, setting up several pre-order opportunities.

[3] In a press release on the same day that the song was released, Sheeran used the song serves as "a metaphor for depression; a track that combats the struggles of feeling very low and not knowing how to break the cycle".

[4] The song is led by a soft guitar melody, in which he shows his emotional strength as he sings on the chorus: "The more that I love, the less that I feel / The times that I jumped never were real / They say that all scars will heal, but I know / Maybe, I won't / But the waves won't break my boat / But the waves won't brеak my boat".

[5] The official music video for "Boat", directed by Mia Barnes, was released alongside the song on 21 April 2023.