In keeping with "Homogenic"'s theme as a tribute to Björk's native Iceland, the track was inspired by Icelandic mythology, such as the Ragnarök. The previous track, "Pluto", stands for death and destruction, whereas "All Is Full of Love" stands for a new beginning. Björk also called it a song about "believing in love" and expressed that "love isn't just about two persons. It's everywhere around you. Even if you're not getting love from Person A, it doesn't mean there's not love there." However, she also described it as "taking the piss", considering it the most "sugary song" ever. As the song opposes the rest of "Homogenic"'s "macho" aesthetic, Björk has said it could have been included on "Vespertine".