In each semi-final, five of the ten competing acts performed, and two entries determined solely by the viewing public through telephone voting progressed to the final.

As per the rules of the competition, an additional optional qualifier could be selected by the contest organisers from among the non-qualifying acts, which would also progress to the final.

In the final round, "Með hækkandi sól" emerged as the winner of Söngvakeppnin 2022, becoming Iceland's representative for the Eurovision Song Contest 2022.

[10] According to Eurovision rules, all nations with the exceptions of the host country and the "Big Five" (France, Germany, Italy, Spain and the United Kingdom) are required to qualify from one of two semi-finals in order to compete for the final; the top ten countries from each semi-final progress to the final.

On 25 January 2022, an allocation draw was held which placed each country into one of the two semi-finals, as well as which half of the show they would perform in.