The women's K-2 500 metres event was a pairs kayaking event conducted as part of the Canoeing at the 1964 Summer Olympics programme on Lake Sagami, Japan.
The top three placers in each heat advanced to the final, while the remaining four crews were relegated to the semifinal the next day.
Those four competed together, with the top three joining the initial six finalists and the last-place pair being eliminated.
The top three finishers from each of the heats advanced directly to the final; the remaining 4 teams were relegated to the semifinal.
The top three finishers in the semifinal (raced on 21 October) advanced to the final.