Pope Boniface VIII is elected, replacing St. Celestine V, who had resigned.

Pope Boniface VIII was head of the Catholic Church and ruler of the Papal States from 24 December 1294 until his death in 1303. The Caetani family was of baronial origin with connections to the papacy. He succeeded Pope Celestine V, who had abdicated from the papal throne. Boniface spent his early pontificate abroad in diplomatic roles.

Pope Celestine V, born Pietro Angelerio, also known as Pietro da Morrone, Peter of Morrone, and Peter Celestine, was head of the Catholic Church and ruler of the Papal States for five months from 5 July to 13 December 1294, when he resigned. He was also a monk and hermit who founded the order of the Celestines as a branch of the Benedictine order.

A papal renunciation, also called a papal abdication, occurs when the current pope of the Catholic Church voluntarily resigns his position. As a pope conventionally holds the office for life, a papal renunciation is an uncommon event. Before the 21st century, only five popes unambiguously resigned with historical certainty, all between the 10th and 15th centuries. There are disputed claims of four popes having resigned, dating from the 3rd to the 11th centuries; a fifth disputed case may have involved an antipope.

December 24 is the 358th day of the year in the Gregorian calendar; seven days remain until the end of the year.