The University of Alaska Board of Regents approved UAF's latest mission statement at its June 8, 2006 meeting. The following statement is now contained in UA Board of Regents Policy 10.01.03:

The University of Alaska Fairbanks, the nation's northernmost Land, Sea and Space Grant university and international research center, advances and disseminates knowledge through teaching, research and public service with an emphasis on Alaska, the circumpolar North and their diverse peoples. UAF--America's arctic university--promotes academic excellence, student success and lifelong learning.

• Educate: Undergraduate and Graduate Students 
  
  
• Discover: Through Research, Scholarship, and Creative Activity including an Emphasis on the North and its Peoples
  
  
• Prepare: Alaska’s Career, Technical, and Professional Workforce
  
  
• Connect: Alaska Native, Rural, and Urban Communities through Contemporary and Traditional Knowledge
  
  
• Engage: Alaskans via Lifelong Learning, Outreach, and Community and Economic Development