The council was modelled on the Arts Council of Great Britain, founded in 1946, and works closely with the Arts Council of Northern Ireland, formed by the British government in Northern Ireland in 1962 to fulfil a similar role.

[7] As of 2023, and for the 3rd year in a row, the Arts Council receives €130 million in funding from the Irish government.

Visual Artists Ireland, the all-Ireland non-governmental organisation representing Irish artists nationally and internationally, is supported by the Arts Council of Ireland.

The arts council consists of 12 members and a chair, each appointed for a five-year term by the Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media.

[11] The Chair of the council is appointed for a five year term by the Minister for Tourism, Culture, Arts, Gaeltacht, Sport and Media.