The independent Legal Aid Committee is examining the existing system and how it can be best provided in the future.
Chairman Andrew Swithinbank said their focus is to promote a "fair, equitable and transparent" system.
Legal aid gives access to justice for those without the means to pay for it.
The first stage of the review will be a public consultation in the Isle of Man which will run until 28 November.
Mr Swithinbank said: "The focus of the committee is to promote access to justice in a manner which is fair, equitable, transparent, professional and which uses public resources carefully and effectively. "
A full review of the Isle of Man's legal aid system will be carried out for the first time in 14 years, the Manx government has said.