SUMMARYIn this paper, we describe and analyse several block matrix iterative algorithms for solving a saddle point linear system arising from the discretization of a linear-quadratic elliptic control problem with Neumann boundary conditions. To ensure that the problem is well posed, a regularization term with a parameter is included. The first algorithm reduces the saddle point system to a symmetric positive definite Schur complement system for the control variable and employs conjugate gradient (CG) acceleration, however, double iteration is required (except in special cases). A preconditioner yielding a rate of convergence independent of the mesh size h is described for ⊂ R 2 or R 3 , and a preconditioner independent of h and when ⊂ R 2 . Next, two algorithms avoiding double iteration are described using an augmented Lagrangian formulation. One of these algorithms solves the augmented saddle point system employing MINRES acceleration, while the other solves a symmetric positive definite reformulation of the augmented saddle point system employing CG acceleration. For both algorithms, a symmetric positive definite preconditioner is described yielding a rate of convergence independent of h. In addition to the above algorithms, two heuristic algorithms are described, one a projected CG algorithm, and the other an indefinite block matrix preconditioner employing GMRES acceleration. Rigorous convergence results, however, are not known for the heuristic algorithms.