Bethany Lutheran Theological Seminary is overseen and governed by an external Board of Regents. The members of the Board of Regents are elected by the Evangelical Lutheran Synod at its annual national convention. The Board of Regents meet four times per year in Mankato, Minnesota to receive reports from the seminary President, establish policy, etc.
- Rev. Mark Bartels (Madison, Wisconsin)
- Rev. Erwin Ekhoff (Golden Valley, Minnesota)
- Mr. Lyle Fahning (Prior Lake, Minnesota)
- Rev. Aaron Ferkenstadf (Golden Valley, MN)
- Mr. Mark Madson (Mankato, MN)
- Dr. Joshua Mears (Lakeville, Minnesota)
- Mr. James Minor (Danbury, Wisconsin)
- Rev. Glenn Obenberger, By Virtue of Office (Mankato, Minnesota)
- Rev. Alex Ring (Port St. Lucie, Florida)
- Mr. Timothy Roemhildt (North Mankato, MN)
- Mr. John Scott (Vero Beach, Florida)
- Mr. David Sparely (Tigard, Oregon)
- Rev. David Thompson (Mankato, MN)