Nations were divided into two round-robin pools of six teams each, with the top four in each pool advancing to the quarter-finals. The tournament then proceeded on a single-elimination basis.
Apart from the 2021-22 FIH Pro-League competition, in which they finished second to Argentina, the Netherlands, reigning Olympic champions, continued in their domination of all major competitions they had entered since the previous Games and, therefore, they were the favorites to win the competition in 2024. The host nation France was making its first appearance at the Olympics. Arguably, the surprise from the qualifying tournaments was the failure of India to qualify, India having finished fourth at the previous Games.
In the group stages, both the Netherlands and Belgium from Pool A were guaranteed a place in the quarter-finals after just three matches to be joined by Germany and China. Similarly, from Pool B Australia and Argentina guaranteed their places also after three matches to be joined by Spain and Great Britain.
The first quarter-final was predicted to be a win for Australia, and when Alice Arnott put them ahead after 10 minutes from a penalty corner, there was no reason to think otherwise. However, China had other ideas, quickly replying through a penalty corner goal by Ma Ning, then taking the lead through Dan Wen. When Zhong Jiaqi extended the Chinese lead through a goal at another penalty corner, an unexpected result was closer. Although Tatum Stewart pulled a goal back for Australia scoring from a penalty corner at the end of the third period, the Chinese hung on valiantly to win the match 3-2.
The next quarter-final match was a tense contest, with Argentina having the better of the first quarter, but Germany having the better of the second. The match was fairly even in the third and fourth quarters, but Viktoria Huse probably thought she had won the match for Germany with a goal from a penalty stroke three minutes from the end, only for Julieta Jankunas to equalize in the last minute from a penalty corner. The match then went to a penalty shoot-out which the South Americans won 2-0.
The third quarter-final was a repeat of the 2016 final, although the Netherlands were strong favorites, and when Xan de Waard scored a goal in the first minute the worst was feared for the British. However, rather than pressing home their advantage, the Netherlands seemed to ease up, allowing Great Britain the chance to equalize through Hannah French. This seemed to galvanize the Dutch into action as they re-took the lead through Luna Fokke with almost the last shot of the second quarter, from a penalty corner goal, and was to add a third goal at the start of the fourth quarter to win the match 3-1.
The final quarter-final saw Belgium defeat Spain in a close match. Neither team had scored until Delphine Marien put Belgium ahead at the start of the fourth quarter, followed three minutes later by a further goal from Charlotte Englebert following the award of a penalty corner. With Belgium winning by 2-0, this meant they advanced to the semi-finals for the first time in Olympic history.
The first semi-final saw a rematch of the teams who contested the 2020 final and, despite Argentina’s best efforts, they were outclassed by the Netherlands, who scored with goals from Luna Fokke, Laura Nunnink, and Yibbi Jansen.
The second semi-final was a much closer match. The scoring was opened by Zou Meirong with a goal from a penalty corner, and China held out until just under two minutes from full-time, when Emma Puvrez equalized with a goal, also from a penalty corner, to take the match into a penalty shoot-out. There was an unfortunate incident at full-time when the Chinese player Fan Yunxia struck the ball, which hit the Belgian player Delphine Marien. The umpire judged it to be an act of frustration, showing Fan a yellow card for her actions. Judith Vandermeiren (BEL) was also shown a yellow card for retaliation. When things had calmed down, the penalty shoot-out went ahead with Belgium taking the early advantage, but China held their nerve to win the shoot-out by 3-2, so returning to the final for the first time since 2008.
In the match for the bronze medal, all the goals were scored in the first half, Emma Puvrez putting the Belgians ahead with a goal from a penalty corner. Argentina replied in the same manor during the second quarter, Agustina Gorzelany being the scorer. Agustina Albertario put Argentina ahead, only to be met with a Justine Rasir goal from a penalty corner just a few seconds later. The remainder of the match showed few clear chances, so the match went into a penalty shoot-out, Argentina being the victors by 3-1.
Despite being coached by legendary Australian Alyson Annan, few people gave China any chance of winning the final against the strong favorites, the Netherlands, who were competing in their sixth consecutive Olympic final in this event, and had won their group match against China 3-0. However, China had not read the script, going ahead when Chen Yi scored after six minutes. They hung on resolutely until nine minutes from the end when Yibbi Jansen equalized from a penalty corner. With no further goals, the match was decided on a penalty shoot-out, which the Netherlands won comfortably 3-1. So, the Netherlands retained their Olympic title and, like their male counterparts, they also won their hockey gold medal by means of a penalty shoot-out.