We evaluate the effects of list-mode reconstruction and the image-space point spread function (iPSF) on the contrast and quantitative values of positron emission tomography (PET) images using a SiPM-PET/CT system. The evaluation is conducted on an NEMA body phantom and clinical images using a Cartesion Prime SiPM-PET/CT system. The signal-to-background ratio (SBR) of the phantom is set to 2, 4, 6, and 8, and all the PET image data are obtained and reconstructed using 3D-OSEM, time-of-flight, iPSF (-/ +), and a 4-mm Gaussian filter with several iterations. The evaluation criteria include % background variability (NB,10mm), % contrast (QH,10mm), iPSF change in QH,10mm (ΔQH,10mm) for edge artifact evaluation, profile curves, visual evaluation of edge artifacts, clinical imaging for the standardized uptake value (SUV) of lung nodules, and SNRliver. NB,10mm demonstrates no significant difference in all SBRs with and without iPSF, whereas QH,10mm is higher based on the SBR with and without iPSF. ΔQH,10mm indicates increased iterations and a larger rate of change (> 5%) for small spheres of < 17mm. The profile curves portrayed almost real concentrations, except for the 10-mm sphere of SBR2 without iPSF; however, with iPSF, an overshoot was observed in the 13-mm sphere of all SBRs. The degree of overshoot increased with increasing iteration and SBR. Edge artifacts were detected at values ≥ 17-22mm in SBRs other than SBR2 with iPSF. Irrespective of the nodal size, SUV and SNRliver improved considerably after iPSF adjustment. Therefore, the effects of list-mode reconstruction and iPSF on PET image contrast were limited, and the overcorrection of the quantitative values was validated using iPSF.