The Council of the Asiatic Society of Bangladesh is its highest body. The Society is run by its own statutes and is administered by an Executive Council elected once every two years . The election of office-bearers and other members of the Council takes place on the expiry of the term of the sitting Council. The candidates for election may be proposed in the prescribed Form in the form of a panel of names for the office bearers. Such proposals shall be received by the General Secretary, on being duly proposed and seconded by bonafide Members and also signed by every eligible candidate. Such proposals shall be received by the 30th of November of the second year of the Council and the council shall peruse the proposals and place them before the members for voting through ballots at the biennial General Meeting, provided that when there is no more panel than one, the said one shall be declared duly elected. No Member shall hold the same office in the Council for more than two consecutive terms and no Member shall be on the Council for more than three consecutive terms.

The Council upholds the constitution, formulates policies and manages the affairs of the Society and is responsible to the general body. The General Secretary acts as the executive arm of the Council, conducts daily business, maintains records, convenes meetings under provisions laid down in the constitution and presents a report at the Biennial General Meeting of the Society. The composition of the Council is as follows: one President, three Vice-Presidents, one Treasurer, one General Secretary, one Secretary and twelve members who include two fellows co-opted by the Council.