A system for detecting ground engaging tool float for an agricultural implement, the system comprising: an implement including a frame and a ground engaging tool pivotally coupled to the frame; a biasing element coupled between the frame and the ground engaging tool, the biasing element being configured to bias the ground engaging tool to a predetermined ground engaging tool position relative to the frame, the predetermined ground engaging tool position corresponding to a position in which the ground engaging tool penetrates soil to a desired depth; a sensor provided in operative association with the ground engaging tool or the biasing element, the sensor being configured to detect a parameter indicative of a current position of the ground engaging tool relative to the frame; a controller communicatively coupled to the sensor, the controller being configured to monitor the current position of the ground engaging tool based on measurement signals received from the sensor, wherein the controller is configured to: identify a time period across which the monitored current position indicates that the ground engaging tool is displaced from the predetermined ground engaging tool position such that the depth of soil penetration has decreased below the desired depth; and compare the identified time period to a threshold time period associated with the occurrence of ground engaging tool float events to determine that a ground engaging tool float event is occurring during operation of the implement when the identified time period exceeds the threshold time period. an implement including a frame and a ground engaging tool pivotally coupled to the frame; a biasing element coupled between the frame and the ground engaging tool, the biasing element being configured to bias the ground engaging tool to a predetermined ground engaging tool position relative to the frame, the predetermined ground engaging tool position corresponding to a position in which the ground engaging tool penetrates soil to a desired depth; a sensor provided in operative association with the ground engaging tool or the biasing element, the sensor being configured to detect a parameter indicative of a current position of the ground engaging tool relative to the frame; a controller communicatively coupled to the sensor, the controller being configured to monitor the current position of the ground engaging tool based on measurement signals received from the sensor, wherein the controller is configured to: identify a time period across which the monitored current position indicates that the ground engaging tool is displaced from the predetermined ground engaging tool position such that the depth of soil penetration has decreased below the desired depth; and compare the identified time period to a threshold time period associated with the occurrence of ground engaging tool float events to determine that a ground engaging tool float event is occurring during operation of the implement when the identified time period exceeds the threshold time period. identify a time period across which the monitored current position indicates that the ground engaging tool is displaced from the predetermined ground engaging tool position such that the depth of soil penetration has decreased below the desired depth; and compare the identified time period to a threshold time period associated with the occurrence of ground engaging tool float events to determine that a ground engaging tool float event is occurring during operation of the implement when the identified time period exceeds the threshold time period.