CQUniversity was established as a university under the terms of the Central Queensland University Act 1998. Under that act, the CQUniversity Council is the University's governing body. It's main functions are:
- To appoint the University's staff; in particular the Vice-Chancellor and President as the chief executive officer of the University and to monitor his or her performance;
- To manage and control the university's affairs and property; principally by approving the strategic direction of the University; and
- To manage and control the university's finances, by approving the Annual Budget and Operational plans.
Professor Nick Klomp is the current Vice-Chancellor and President of CQUniversity and works in close collaboration with the University Council, of which he is a member. Professor Klomp also works with a wide range of internal and external stakeholders to provide overall leadership and directions for the University.