The Lofoten Vortex (LV), which is identified as a quasi-permanent anticyclonic eddy, strengthens through continuous merging with external anticyclonic eddies. Our investigation used the Lagrangian method to monitor the LV on a daily basis. Utilizing satellite altimeter data, we conducted multi-year tracking and statistical analysis of merging events involving the LV. The results indicate a characteristic radius of approximately 42.72 km and a mean vorticity at the eddy center of approximately −2.23 × 10−5 s−1. The eddy exhibits oscillatory motion within the sea basin depression, centered at 70°N, 3°E, characterized by counterclockwise trajectories between 0.5°E and 6°E and between 69°N and 70.5°N. There are two types of merging events: fusion events (55%), in which eddies of similar strengths interact within a closed flow line and then merge to form a new eddy; and absorption events (45%), in which the stronger LV absorbs the weaker anticyclonic eddies without destroying the structure of the LV itself. The nodes where strong vorticity advection occurs correspond to the nodes where merging occurs, suggesting that their effect on merging can be well characterized by the vorticity advection time series. We also observe occasional fluctuations and substitution events involving the LV and external anticyclonic eddies, suggesting a dynamic succession rather than a single vortex entity.