[7] The municipality (originally the parish) is named after the island of Værøya (Old Norse: Veðrøy) since the first Værøy Church was built there.

On 6 January 1908, a royal resolution changed the spelling of the name of the municipality to Værøy.

The official blazon is "Azure, a puffin argent armed gules" (Norwegian: I blått en sølv lundefugl).

The puffin has a tincture of argent which means it is commonly colored white, but if it is made out of metal, then silver is used.

The churge is a puffin to represent the fact that they nest in large numbers in the area and historically, they held great importance for the island municipality, both for meat and down feathers.

The highest point in the municipality is the 450.13-metre (1,476.8 ft) tall mountain Nordlandsnupen, on the south side of the village of Nordland.

Røst and Værøy are among the most northern locations in the world where there is no meteorological winter because the average temperature generally stays above freezing all year.

Værøy has a subpolar oceanic climate (Köppen Cfc, Trewartha Eolk) with short, cool summers and long, but not very cold, winters.

The municipal council (Kommunestyre) of Værøy is made up of 13 representatives that are elected to four year terms.

The airport was determined to be in a bad position, due to the location next to a mountain and the frequent presence of strong and unpredictable winds, which made takeoffs and landings dangerous.