General elections were held in Ecuador on 19 February 2017 alongside a referendum on tax havens. Voters elected a new President and National Assembly. Incumbent President Rafael Correa of the PAIS Alliance was not eligible for re-election, having served three terms. In the first round of the presidential elections, PAIS Alliance candidate Lenín Moreno received 39% of the vote. Although he was more than 10% ahead of his nearest rival, Guillermo Lasso of the Creating Opportunities party, Moreno was just short of the 40% threshold required to avoid a run-off. As a result, a second round was held on 2 April. In the second round Moreno was elected president with 51.16% of the vote.

Following nearly a decade of political volatility in Ecuador that was characterized by impeachments, economic crises, and public unrest, Rafael Correa, the nation's previous president, began his ascendance to power. During his 2006 campaign Correa established the PAIS Alliance, a coalition of leftist organizations that is the same party of current president Lenin Moreno. Lenin Moreno previously served as Correa's vice president.

Throughout his campaign and during his presidency Correa mobilized populist rhetoric to gain support, framing himself in opposition to the former political elite and current economic elite: Correa used the terms “neoliberal night” (“noche neoliberal”) and “particracy” (“partidocracia”) to refer to those groups, respectively, and characterized his own movement as a “citizen's revolution” (La revolucion ciudadana). Correa's success was part of a larger wave of leftist movements in Latin American that began around the turn of century, frequently referred to as the “pink tide.” Other countries that elected left-leaning presidents in the early 2000s include Argentina (Néstor Kirchner), Venezuela (Hugo Chávez), and Brazil (Luiz Inácio Lula da Silva), among others.

One of the most significant events that took place during Correa's time in office was the ratification of a new constitution in 2008. Correa advocated for the new constitution and his supporters welcomed it, citing a focus on civil rights and social programs for the impoverished. However, the constitution was also met with much opposition, as its detractors feared that the document would give too much economic authority to the executive and initially believed its elimination of term limits would benefit Correa himself, although a provision on the amendment assured the law would not be put into action until after his presidency had ended.

Guillermo Lasso, a former banker, initially ran for president in 2013, but lost to Correa by more than 30% of the vote in the first round. In both his first and second bids for president, Lasso was aligned with the Creating Opportunities Party (Creando Oportunidades), a conservative-leaning party that formed in 2012 and focused on celebrating the market, eliminating taxes, as well as advocating for an independent judiciary and free speech.

With Correa ineligible for re-election, his supporters formed an organisation Rafael Contigo Siempre (Always with you Rafael) to campaign for a constitutional amendment to allow him to run again. With signatures from 8% of the electorate required to hold a referendum (929,062), a total of 1.2 million were collected. However, Correa stated that he was planning on retiring from politics and would not run again. Instead, on 2 October 2016 the PAIS Alliance nominated Lenín Moreno, Correa's vice president from 2007 to 2013, as its candidate, with incumbent vice president Jorge Glas as his running mate. Moreno was challenged by Guillermo Lasso, a former banker.

A central issue in the presidential election was corruption; scandals in the Petroecuador state oil company and Odebrecht cases led to demands that candidates develop substantive plans to deal with corruption. Moreno proposed an anti-corruption law, while Lasso proposed a Truth Commission, which would be created with assistance from the United Nations.

The two main candidates had very different visions for the country; Moreno's policy ideas were fairly similar to Correa's, while Lasso said he wanted to attack corruption and lower taxes.