Mayor Antonio Villaraigosa on Thursday announced the creation of a 26-member panel to thoroughly review security measures at Los Angeles International Airport, which has been identified as a top potential target for terrorists.

The panel will look into counterterrorism measures, law enforcement, fire services, emergency management and available resources to enhance safety at the nation’s third-busiest airport.

“We have continually made improvements to security at LAX,” Villaraigosa said, “but we must ensure our facility and protocols remain state of the art to...