"Is It Over Now?" is a song by the American singer-songwriter Taylor Swift. Written by Swift and Jack Antonoff, the song was intended for but ultimately left out of Swift's fifth studio album, 1989 (2014). It was released as part of the 2023 re-recording, 1989 (Taylor's Version). "Is It Over Now?" is an electropop and synth-pop power ballad composed of dense reverb, synthesizers, and an echoing drum machine. Republic Records released the song to US contemporary hit radio on October 31, 2023.

The song depicts Swift's complex emotions in the aftermath of a failed romance, discussing feelings of disappointment and resentment that ensue. The lyricism features rhetorical questions and tight internal rhymes. Critics drew several parallels between "Is It Over Now?" and "Out of the Woods" (2014), a single from 1989. They praised "Is It Over Now?" for its enlivening composition and storytelling lyrics; many deemed the song an album highlight and one of Swift's best works. Multiple publications included it in their lists of the best songs of 2023.

Commercially, "Is It Over Now?" debuted atop the Billboard Hot 100, marking Swift's 11th number-one single in the US; also her sixth number-one debut, the song replacing her own "Cruel Summer" (2023) from the top spot, making Swift the first female soloist to replace herself atop the chart twice. Elsewhere, "Is It Over Now?" topped the singles charts of Australia, Canada, New Zealand, and the United Kingdom, as well as the Billboard Global 200 and the US Pop Airplay chart. Swift performed "Is It Over Now?" five times on the Eras Tour (2023–2024).

After signing a new contract with Republic Records, the singer-songwriter Taylor Swift began re-recording her first six studio albums in November 2020. The decision followed a public dispute in 2019 between Swift and talent manager Scooter Braun, who acquired Big Machine Records, including the masters of Swift's albums which the label had released. By re-recording the albums, Swift had full ownership of the new masters, which enabled her to control the licensing of her songs for commercial use and therefore substituted the Big Machine–owned masters. From April 2021 to July 2023, Swift released three re-recorded albums of her earlier releases: Fearless (Taylor's Version), Red (Taylor's Version), and Speak Now (Taylor's Version); each album also featured several unreleased "From the Vault" tracks that she had written but left out of the original albums' track listings.

Republic Records released Swift's fourth re-recorded album, 1989 (Taylor's Version), on October 27, 2023, on the ninth anniversary of her fifth original studio album, 1989 (2014). The original album was Swift's first "official pop" album after she had marketed her first four albums to country radio, and it transformed her artistry and image from country to pop. As with her other re-recorded projects, 1989 (Taylor's Version) features five newly recorded "From the Vault" tracks that Swift had written but left out of the original track listing. "Is It Over Now?" is one of the vault tracks Swift had written in 2014 but excluded from the track-list of 1989. She wrote and produced the track with Jack Antonoff for 1989 (Taylor's Version).

Antonoff and the audio engineers Laura Sisk and David Hart, assisted by Jack Manning, Megan Searl, and Jon Sher, recorded the track at four studios: Conway Recording Studios, Sharp Sonics (Los Angeles), Electric Lady Studios, and Rough Customer (New York). Antonoff also programmed the song, played synthesizers, and provided background vocals. Zem Audu played additional synthesizers and recorded his part at Audu Studio (Brooklyn). Sean Hutchinson and Micchael Riddleberger played and recorded drums at Hutchinson Sound Studio (Brooklyn). Mikey Freedom Hart played synthesizer which he recorded at Big Mercy Studio (Brooklyn). Evan Smith played saxophone and recorded his part at Pleasure Hill (Portland). The track was mixed by Serban Ghenea at MixStar Studios (Virginia Beach, Virginia) and mastered by Randy Merrill at Sterling Sound (Edgewater, New Jersey).

A song based on storytelling, "Is It Over Now?" depicts Swift's experience with rumors and disappointment in the aftermath of a romantic relationship. The narrator memorizes the details ("Red blood, white snow/ Blue dress on a boat") and clings onto the relationship ("Let's fast forward to 300 takeout coffees later/ I see your profile and your smile on unsuspecting waiters/ You dream of my mouth before it called you a 'lying traitor'"). She accuses him of cheating with resentment and anger ("You search in every model's bed for something greater", "At least I had the decency to keep my nights out of sight"), but, at one point, admits that she too has cheated on him. She later confesses to having fantasized about "jumping off of very tall somethings" to win his attention again. The on-again-off-again relationship leaves her wondering, "Is it over now?", but she ultimately accepts that it has ended. The lines consist of internal rhymes in strict meter ("I think about jumping/ Off of very tall somethings/ Just to see you come running/ And say the one thing/ I've been wanting").

Music critics likened "Is It Over Now?" to some of Swift's past songs; several connected the song to or described it as a thematic continuation of "Out of the Woods", a single from 1989, because both songs address the uneasy situation of a past relationship and feature details regarding an accident. Bobby Olivier from NJ.com wrote that the feelings of "sorrow, fragility and rage" resembled the sentiments of "All Too Well" (2012), while Ed Power from the i felt the song was a "spiritual sequel" to "I Knew You Were Trouble" (2012). For Business Insider journalist Callie Ahlgrim, the question "Is it over now?" is rhetorical and represents an existential crisis. Meanwhile, Entertainment Weekly's Lauren Huff opined that the answer to that question was a definite yes, albeit "not the good kind". Some media outlets speculated that the song addressed Swift's relationship with the English singer Harry Styles, which ended in 2013.