The song was written by Lake, Chris Davenport, Cody Carnes, and Josh Silverberg.

[6] Brandon Lake shared the story behind the song,[7] saying it came out of a conversation between Cody Carnes, Chris Davenport and him about the miracles they had seen.

[7] Lake shared that while Joshua Silverberg was not present when they had written the song, he was credited on account of being an inspiration to them for the number of healings he had seen.

[12] On September 24, 2021, Bethel Music released the official lyric video of the song on YouTube.

Cody Carnes and Brandon Lake released a studio-recorded version of "Too Good to Not Believe" as a single on May 28, 2021.