The role and scope of the city council is to direct Reykjavík under the Local Government Act and other laws. The City Council is composed of 23 city council members and alternates.
The City Council decides upon the use of the revenues and the implementation of the projects the municipality is responsible for. It shall ensure compliance with the provisions of the municipal regulations and the Articles of Association of the City. Furthermore, the city council may pass resolutions on any matter it considers relevant to the City.
 
The mayor is the executive of the city. At a meeting of the City Council on June 19, 2018 Dagur B. Eggertsson was elected mayor.