Carnival Victory underwent an approximately $200 million bow-to-stern transformation in Cádiz, Spain, to become Carnival Radiance. The project began in 2020 but was suspended when Spain entered a nationwide COVID-19 lockdown, significantly extending the conversion schedule. Work later resumed, and Carnival officially changed the vessel's name to Carnival Radiance in September 2021 while the transformation was in its final stages.

The completed ship incorporated Carnival's Fun Ship 2.0 dining, beverage and entertainment concepts along with extensive accommodation and public-area refurbishment. Among the notable additions was Big Chicken, the poolside restaurant developed with Shaquille O'Neal. The transformed Carnival Radiance departed Cádiz in October 2021 ahead of its eventual deployment from Long Beach, California.

Carnival Victory completed an extensive multi-million-dollar refurbishment at Grand Bahama Shipyard that added Guy's Burger Joint, BlueIguana Cantina, RedFrog Rum Bar, BlueIguana Tequila Bar, Bonsai Sushi Express and Cherry on Top, along with a redesigned Carnival Deli. The project also added new accommodations, including two 820-square-foot Captain's Suites and new Scenic Ocean View and Scenic Grand Ocean View staterooms.