The University of the Faroe Islands, as it is currently constituted, was formed in 2008, when the Faroese School of Education and the Faroese School of Nursing were merged into the University of the Faroe Islands – Fróðskaparsetur Føroya.

The University, which plays a vital role in Faroese society, currently has some 100 academic staff (full-time equivalents), some 60 staff in support and service positions, and around 1,000 students.The University is comprised of a central administration and five faculties: the Faculty of Faroese Language and Literature, the Faculty of Education, the Faculty of History and Social Sciences, the Faculty of Science and Technology and the Faculty of Health Sciences.