The University is governed by a Board of Governors and a Senate, instituted under the terms of the University Act. The twenty-six-member Board consists of nine members appointed by the Lieutenant-Governor-in-Council; the Chancellor of the University; the President of the University; the President of Holland College; two members elected from the Senate; two members elected from the teaching faculty; two members elected from the Alumni; two members elected from the student body; and six members elected by the Board.

The Senate is composed of the President of the University; the Vice-Presidents of the University; the Deans of Faculties and Schools; the Registrar; the University Librarian; the Director of the Centre for Life-Long Learning; six members of the student body, at least one of whom is a mature or part-time student, or both; the President of the Student Union; one member of the Board of Governors; one member of the Alumni Association; and twenty-two members elected from the full-time teaching faculty.

The courses offered by the University lead to degrees in Arts, Science, Business Administration, Education, Music, Veterinary Medicine, Nursing, and Radiography. At its Convocation Exercises in May 2011, the University conferred 686 bachelor’s degrees, 60 DVM degrees, 107 master’s degrees, 2 doctoral degrees, 24 diplomas, and 35 certificates.

The full-time teaching staff for the 2011–2012 sessions totals approximately 250 persons. The University had an enrolment of 3,933 full-time and 667 part-time students in its forty-third academic year which began in September 2011.

The University of Prince Edward Island is divided into four faculties: Arts, Science, Education, and Veterinary Medicine; and two schools: Business Administration and Nursing.
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The Faculty of Arts is comprised of the Departments of Classics, Economics, English, History, Modern Languages, Music, Philosophy, Political Science, Psychology, Religious Studies, Sociology and Anthropology; with programs in Acadian Studies, Asian Studies, Canadian Studies, Catholic Studies, Christian Studies, Environmental Studies, Fine Arts, Integrated Studies, International Studies, Island Studies, Print Journalism, Public Administration, Theatre Studies, University Writing, and Women's Studies.

The Faculty of Science is comprised of the Departments of Biology, Chemistry, Engineering, Applied Human Sciences, Mathematics and Statistics, Computer Science and Information Technology, and Physics; with a program in Radiography.

The Faculty of Veterinary Medicine is comprised of the Departments of Biomedical Sciences, Companion Animals, Health Management, and Pathology and Microbiology.

All faculties offer courses at the undergraduate level. Graduate degrees are offered in the Faculties of Arts, Business, Education, Nursing, Science, and Veterinary Medicine.
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