The members of the University Council are:

• Jón Atli Benediktsson, Professor at the Faculty of Electrical and Computer Engineering and Rector of UI, chair
• Ásthildur Margrét Othardsóttir, Consultant and Chair of the Board of Directors of Marel hf, a representative nominated by the University Council
• Benedikt Traustason, Student in Biology, representative of the student body
• Einar Sveinbjörnsson, Meteorologist and CEO of Veðurvaktin, representative of the Minister of Education, Science and Culture
• Guðrún Geirsdóttir, Associate Professor at the Faculty of Teacher Education, School of Education, and Faculty Administrative Officer of the Centre for Teaching and Learning, representative of the University community
• Guðvarður Már Gunnlaugsson, Research Professor at the Árni Magnússon Institute for Icelandic Studies, nominated by the University Council
• Ingibjörg Gunnarsdóttir, Professor at the Faculty of Food Science and Nutrition, School of Health Sciences, representative of the University community and vice-chair of the Council
• Ólafur Pétur Pálsson, Professor at the Faculty of Industrial Engineering, Mechanical Engineering and Computer Science, School of Engineering and Natural Sciences, representative of the University community
• Ragnhildur Alda María Vilhjálmsdóttir, BS in Psychology, representative of the student body
• Ragna Árnadóttir, Deputy CEO of the National Power Company of Iceland, nominated by the University Council.
• Siv Friðleifsdóttir, Deputy Director General at the Ministry of Social Affairs, representative of the Minister of Education, Science and Culture

University Council Secretary is Magnús Diðrik Baldursson, Director of the Rector's office

Deputy members:

• Davíð Freyr Jónsson, CEO, for Siv Friðleifsdóttir,
• Guðbrandur Benediktsson, Museum, for Ásthildur Margrét Otharsdóttir, Guðvarður Már Gunnlaugsson and Rögna Árnadóttur
• Helga Lind Mar, Law student, for Benedikt Traustason,
• Jóhann Óli Eiðsson, Law student, for Ragnhildur Alda María Vilhjálmsdóttir,
• Jón Ólafsson, Professor at the Faculty of Icelandic and Comparative Cultural Studies, School of Humanities, for Guðrún Geirsdóttir,
• Lárus Thorlacius, Professor at the Faculty of Physical Sciences, School of Engineering and Natural Sciences, for Ólafur Pétur Pálsson,
• Sigrún Ólafsdóttir, Professor at the Faculty of Sociology, Anthropology and Folkloristics at the School of Social Sciences, for Ingibjörg Gunnarsdóttir,
• Snædís Karlsdóttir, for Valdimar Víðisson.