"All Is Full of Love", the closing track of Homogenic, was the album's last song to be written and recorded. Produced by Björk, the original version of the song was replaced "at the last minute" with a remixed version by Howie B. It was inspired by the spring while producing the album in Málaga, Spain. After living in the mountains among other people for six months, Björk felt lonely, but a morning walk in April inspired her to write the track. She had a rough winter and then she realised it was spring after she could hear the birds singing. She wrote and recorded the song in half a day.
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.
The lyrics begin with a promise of protection and caretaking: "You'll be given love / You'll be taken care of / You'll have to trust it". The song moves towards a more reproachful tone as Björk sings, "You just ain't receiving / Your phone is off the hook / Your doors are shut", tempered by the recognition that you have to "twist your head around you" because "love is all around you". This is musically effected by Björk's vocals as she sings the lyric "All is full of love" in counterpoint with herself.
The album version of the track does not have drum accompaniment. It does not have Homogenic's characteristic electronic beats, focusing instead on "[creating] an intimacy between the growing dynamics of the instrumentation and Björk's impressive vocal abilities." It uses a long reverb, which results in a wash of sound that suggests a very large space suggestive of the "heavenly" environment Björk envisaged for the track. According to Sal Cinquemani of Slant Magazine, the song has a soft pulse with intervals that build up to an electronic orchestration of industrial beats. David Browne of Entertainment Weekly called it a "moony lullaby" and compared it to the music of Enya. In his review for Spin, James Hunter wrote that the track is one of the times Björk "dips her toe into the warm lake of tradition" and noted its "rockish minor-key verses traipse off into her gospel."