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The Labour Party won a majority of seats at the election.^[2]

With an electorate of 5,313,470, there was a turnout of 36.8%.^[3]

Among those who were first elected to the GLC in 1973 were Ken Livingstone (Labour, Lambeth, Norwood), later to lead it, Andrew McIntosh (Labour, Haringey, Tottenham) who was his brief moderate rival for the Labour leadership, and Serge Lourie (Labour, Havering, Hornchurch), who became a founder member of the SDP and leader of Richmond upon Thames London Borough Council in 2001.

Party		Votes			Seats
		Number	%	+/-	Stood	Seats	%	+/-
	Labour	928,034	47.4	7.5	92	58	63.0	23
	Conservative	743,123	38.0	12.6	92	32	34.8	33
	Liberal	244,703	12.5	7.1	60	2	2.2	2
	Communist	11,954	0.6	1.2	28	0	0.0
	National Front	9,536	0.5	New	6	0	0.0
	Residents’ or Ratepayers’	5,516	0.3	New	3	0	0.0
	Independent	4,211	0.2	0.1	15	0	0.0
	Action	3,063	0.2	0.4	6	0	0.0
	National Independence	2,924	0.1	New	1	0	0.0
	Ind. Conservative	2,393	0.1	New	2	0	0.0
	Socialist (GB)	1,612	0.1		11	0	0.0
	Independent Labour	227	0.0	New	1	0	0.0

In addition to the 92 elected councillors, there were fifteen aldermen elected by the council. Eight aldermen elected in 1970 continued to serve until 1976 and the eight elected in 1967 retired before the 1973 election. Seven aldermen were elected by the council on 4 May 1973 to serve until 1979.

Aldermen elected in 1973, to retire in 1979:^[a]

The aldermen divided 9 Labour and 6 Conservative, so that Labour had 67 members to 38 for the Conservatives following the aldermanic election. It would be the final election of aldermen to the council, with those elected in 1970 and 1973 having their terms altered to all end in 1977.^[1]