St. Basil College is chartered by the Connecticut State Assembly and is accredited by the Board of Higher Education of the State of Connecticut.
The College holds membership in the American Association for Higher Education, Connecticut Council of Higher Education, the National Catholic Educational Association, and the National Association of College Seminaries.

In May, 2007, The New England Association of Schools and Colleges accepted the College as a "candidate" for the granting of full accreditation.

In January, 2006, the College was granted "Institutional Pre-Accreditation" by the American Academy for Liberal Education.