Within the framework of the European Space Agency (ESA) Climate Change Initiative (CCI) soil moisture project, an over 40-year (1978-2023) soil moisture time series (ESA CCI SM v09.1) is developed, which consists of three products: an ACTIVE data set, a PASSIVE data set and a COMBINED data set. It provides daily surface soil moisture with a spatial resolution of 0.25°. This document is the Product Validation and Intercomparison Report (PVIR). The purpose of the PVIR is the final validation of the soil moisture time series, which is developed in the framework of the ESA CCI soil moisture project. It includes the verification and the validation of the product. This document forms the deliverable D4.1 Version 2, Product Validation and Intercomparison Report (PVIR) and was compiled for the ESA CCI+ PHASE 2 - NEW R&D ON CCI ECVS Soil Moisture Project (ESRIN Contract No. 4000126684/19/I-NB). For more information on the CCI programme of the ESA see https://climate.esa.int/en/.