The constituency currently elects nine[a] of the 63 members of the Althing using the open party-list proportional representation electoral system.

In March 1843 King Christian VIII of Denmark issued a royal decree converting the Althing into a consultative assembly.

[2] In September 1997 Prime Minister Davíð Oddsson appointed a committee headed by Friðrik Klemenz Sophusson to review the division of constituencies in Iceland and the organisation of elections.

The committee's report was published in October 1998 and recommended, amongst other things, that the number of constituencies be reduced and that they be more equal in population size.

[9] The Act required that, when an election to Althing had been called, the National Electoral Commission had to determine the boundaries between the Reykjavík South and Reykjavík North constituencies so that the number of registered electors per seat (including compensatory seats) is approximately the same.

[9] Reykjavík South currently elects nine[a] of the 63 members of the Althing using the open party-list proportional representation electoral system.

[12][13] Compensatory seats (equalisation seas) are calculated based on the national vote and are allocated using the D'Hondt method at the constituency level.