The tournament was contested by 10 teams, an decrease from 14 teams the previous edition with the format of the tournament changing to a single round-robin group with the top four teams qualifying through to the knockout stage. After six weeks of the round-robin matches which saw four games not have a result; India, Australia, England and New Zealand finished as the top four with Pakistan missing out by net run rate.
In the knockout stage, England and New Zealand won their respective semi-finals to qualify for the final, which was played at Lord's in London. The final which saw the first Super Over in an ODI, ended in a tie after the match ended with both teams scoring 241. England took home their first title by the boundary countback rule, which was later scrapped by the ICC. Overall, approximately 2.6 billion people around the world watched the tournament, making it the most-watched cricket competition as of 2019.
The hosting rights were awarded in April 2006, after England and Wales withdrew their bid to host the 2015 ICC Cricket World Cup, which was played in Australia and New Zealand. It was the fifth Cricket World Cup played in England, following the 1975, 1979, 1983 and 1999 World Cups. Wales also hosted matches at the 1983 and 1999 tournaments, the latter also seeing matches played in Scotland, Ireland and the Netherlands.