Hrafknell
Hrafnkell is the eponymous hero of the saga. The story sees a drastic shift in character from a situation where Hrafnkell is merely a proud bully to one where he becomes a respectable chieftain. While defeated and humiliated due to his execution of the shepherd, he is able to seek revenge and re-establish his identity.
Hallfreður
Hallfreður is the father of the hero who is mentioned in the beginning of the saga.
Einar
Einar is a shepherd who is executed by Hrafnkell after he rides his favorite horse to work one day. His death leads to a chain of events that end up in Hrafnkell's humiliation and the destruction of his temple.
Þorbjörn
Þorbjörn is the shepherd's father. After the death of the shepherd, he desperately looks for justice. In the end, his nephew, Samur, is able to help him get that justice and humiliate Hrafnkell.
Bjarni
Bjarni is the father of Samur and the brother of Þorbjörn. When Þorbjörn asks him for help in getting justice, he refuses as he is afraid of the powerful Hrafnkell.