Councillor Chris Calvi-Freeman said an online forum had been launched for the public to comment on a range of issues, such as the number of parks and duration of stay.
"In many cases demand exceeds supply, resulting in conflicts, poor safety outcomes and inefficiencies," he said.
Cr Calvi-Freeman said the parking review was separate to the council's proposal to increase resident and coupon parking permits.
It was important to separate the parking review from the other Let's Get Wellington Moving announcement - which had a longer-term transport outlook, he said.
"This is a policy development exercise - the parking policy review - and that's something that has a shorter timeframe."
The council managed about 11 percent of total available parking spaces in the central area.
About 900 were off-street and 3200 on-street parks.
Chief executive of the Wellington Chamber of Commerce John Milford said the review was long overdue as businesses were concerned about parking and access in the city.
"One recent comment was that 'with the significant loss of parking facilities, is making the city a very unfriendly place to meet in'," he said.
Mr Milford said the issue had increased in recent years.
"(The) lack of parking availability has been compounded by the loss of major car parking buildings due to the earthquakes and loss of on-street parking due to building strengthening and cycleways," he said.
The council's online forum is available at [www.letstalk.wellington.govt.nz letstalk.wellington.govt.nz].
A revised parking policy would be developed and then open for consultation later this year.