The Library was established under the National Library Act 1960, which defines the Library's role, corporate governance and financial management framework.

As a statutory authority within the Department of Infrastructure, Transport, Regional Development, Communications and the Arts portfolio, the Library is also subject to the Public Governance, Performance and Accountability Act 2013, which provides the reporting and accountability framework.

A set of National Library Regulations governs access to, and conduct on, Library property and access to, and use of, Library materials.

Governance of the Library is the responsibility of the Library Council.

The Director-General of the Library is Dr Marie-Louise Ayres who was appointed on 2 March 2017.

The Annual Report provides a full corporate overview for the previous year, including details of current corporate management issues.