A 17-member board appointed by the Governor, the Board of Visitors has the power to control and expend the funds of the University and any appropriation made to it, the power to make all rules and regulations concerning the University, the power to appoint the President, who is the chief executive officer of the University.

Members of the Board of Visitors are appointed for four-year renewable terms, and no member may serve for or during more than two successive four-year terms. Three members may be non-residents of Virginia, and at least three members must be alumni of Old Dominion University. A non-voting student representative is elected annually by the Board of Visitors.

The Board of Visitors holds quarterly meetings in September, December, April and June of each year. Meetings of the Executive Committee are scheduled during the months in which the full Board does not meet.