The ordinary legislative procedure consists in the joint adoption by the European Parliament and the Council of a regulation, directive or decision on a proposal from the Commission.
It is defined in Article 294 of the Treaty on the Functioning of the EU as the most common EU law making procedure. It gives the European Parliament the power to adopt EU laws jointly with the Council of the European Union.
With the Lisbon Treaty, the European Parliament has become a co-legislator on an equal footing with the Council, except in the cases provided for in the Treaties where the procedures regarding consultation and approval apply. The ordinary legislative procedure also includes qualified majority voting in the Council.
The treaty also increased the number of policy areas to which voting by means of this procedure applies, thus enhancing the European Parliament’s powers.
The procedure comprises 1, 2 or 3 readings, as well as a conciliation procedure. It has the effect of increasing contacts between the European Parliament and the Council, the co-legislators, with the European Commission.
Source: EUR Lex Glossary