The series was open to Le Mans Prototypes and grand tourer-style cars, divided into four classes: LMP1, LMP2, LMGTE Pro, and LMGTE Am. World Championship titles were awarded for LMP drivers and teams, and for GTE drivers and manufacturers. FIA Endurance Trophies were also contested in LMP2 and LMGTE Am.
The provisional eight-round calendar was announced during the 2018 6 Hours of Silverstone. All events from the previous season were retained, with Bahrain returning after an absence and Interlagos included for the first time since 2014. Silverstone and Shanghai were shortened to four-hour events, while Bahrain was scheduled as an eight-hour race. The Fuji round was moved forward by one week to avoid a clash with the Japanese Formula 1 Grand Prix, which in turn allowed Shanghai to shift as well.
In December 2019, the 6 Hours of São Paulo was cancelled after the local promoter failed to meet contractual obligations. It was replaced by a 6 Hours of Circuit of the Americas, with the date shifted back three weeks to avoid conflicts with Super Bowl LIV and the Mexico City ePrix.
The 1000 Miles of Sebring, scheduled for March 20, 2020, was cancelled due to travel restrictions between Europe and the United States in response to the COVID-19 pandemic. The 24 Hours of Le Mans was postponed from its traditional June date to September 2020. The 6 Hours of Spa-Francorchamps was also postponed, eventually rescheduled to August 15, 2020. A revised calendar issued in April 2020 replaced the cancelled Sebring round with an additional 8 Hours of Bahrain on November 21, 2020. The final Bahrain event was shifted one week earlier to accommodate Formula One's scheduling of a double-header at the venue at the end of November.
The LMP1 field was dominated by Toyota Gazoo Racing, which ran the TS050 Hybrid. Private LMP1 contenders included Rebellion Racing and ByKolles, both of which made only partial season appearances. The Rebellion R13 entry numbered 3 and the ByKolles ENSO CLM P1/01 numbered 4 were each ineligible for championship points as non-full-season entries. LMP2 cars all used the Gibson GK428 4.2-litre V8 engine in accordance with class regulations.
Points were awarded to competitors who completed the timed race distance and achieved at least 70% of the overall winner's race distance. Pole position carried a single bonus point per class for both team and drivers. A race had to complete at least two laps under green-flag conditions for championship points to be awarded. Four drivers' titles were contested: the LMP World Endurance Drivers' Championship (LMP1 and LMP2), the GTE World Endurance Drivers' Championship, and Endurance Trophies in LMP2 and LMGTE Am. Manufacturers' and teams' championships at world championship level were offered for LMGTE and LMP1 respectively, with Endurance Trophies for LMP2 and LMGTE Am teams.
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