The politics of the state of San Marino take place in a framework of a unitary parliamentary representative democratic republic, whereby the Captains Regent are the heads of state and heads of government. The country has a multi-party system. Executive power is exercised by the government. Legislative power is vested in both the government and the Grand and General Council. The judiciary is independent of the executive and the legislature.

Captains Regent are the two heads of state of the Republic of San Marino. They are elected every six months by the Grand and General Council, the country's legislative body. Normally the Regents are chosen from parties in coalition and serve a six-month term. The investiture of the Captains Regent takes place on 1 April and 1 October every year. This tradition dates back at least to 1243.