Elections to Lambeth London Borough Council were held on 2 May 2002. The whole council was up for election with boundary changes reducing the number of councillors by one since the last election in 1998.[1]Labour despite having the largest number of votes with 36.6% of the vote, it still lost 13 seats, while the Liberal Democrats and the Conservative Party gained seats, resulting in Labour losing control of the Council and no party having a majority.[1]
Following the election, the Liberal Democrats and Conservatives formed a coalition to run the council with Cllr Peter Truesdale, Liberal Democrat, as Leader and Cllr John Whelan, Conservative, as Deputy Leader.