In this paper we give new sufficient and necessary conditions for a Banach space to be equivalently renormed with the Mazur intersection property. As a consequence, several examples and applications of these results are obtained. Among them, it is proved that every Banach space embeds isometrically into a Banach space with the Mazur intersection property, answering a question asked by Giles, Gregory, and Sims. We also prove that for every tree T, the space C 0 (T ) admits a norm with the Mazur intersection property, solving a problem posed by Deville, Godefroy, and Zizler. Finally, assuming the continuum hypothesis, we find an example of an Asplund space admitting neither an equivalent norm with the above property nor a nicely smooth norm.