The institution was founded in 1889 by Sri Mulam Thirunal Ramavarma one of the most renowned rulers of the State of Travancore. The Maharaja went on a pilgrimage to Banares and he had occasion to visit the Sanskrit College there imparting instruction in various Sastras. Being impressed by the College, he on his return invited celebrated scholars in Sanskrit from different parts of India to start a new institution on the model of the Sanskrit College at Banaras. Thus in 1889 the Sanskrit College, took shape in a temple at Mitranandapuram, housed within the Fort area and was run under royal patronage. The institution enjoyed the protection of the " Rajarshi " for a long period of 35 years. Sri Chithira Tirunal Balaramavarma who succeeded him took great interest in the promotion and propagation of Sanskrit Studies. A new building with adequate facilities was built for the College by the Government during his regime. He used to invite scholars of repute from different parts of India for the Navaratry Vidvat Sadas and awarded medals and prizes to the deserving pandits. The institution flourished under his patronage. With the attainment of freedom of India in 1947 the Government introduced necessary reforms in the College and raised it to the status of a full-fledged First Grade Degree College. This institution with a glorious past of more than ten decades can be said to be the first of its kind in South India.

Sri. A.R. Raja Raja Varma was appointed the first Principal of the institution by Sri. Mulam Tirunal Rama Varma. Mahamahopadyaya Dr. T. Ganapathi Sastri succeeded him as Principal in 1899. On Sri Sastri's retirement, Sri. Thuravoor Narayana Sasthrigal, the celebrated scholar in Sanskrit grammar, became the Principal of the institution. When Sri. Narayana Sastri left service Sri Krishna Sastrigal became the Principal. In 1917 Sri. V. Krishnan Thampi was appointed Principal. In 1919 the College which was housed within Fort was shifted to a building at Palkulangara, Thiruvananthapuram.

In 1935 the Vedic section in the College was separated and its management was entrusted to the Department of Devaswoms.

After Sri.V.Krishnan Thampi, Sri. N. Neelakanta Pillai, M.A., and Dr. K.Godavarma took charge as Principals, in 1934 and in 1935 respectively. Dr. K.Godavarma was transferred to the Department of Malayalam of the University College, Thiruvananthapuram in 1939 and Sri. N. Gopala Pillai, M.A., became Principal in 1939. He was the Principal of the institution for a period of 18 years.

The course of studies in the College were reorganized in 1917. the College worked in accordance with the reorganized scheme till its affiliation to the University of Madras in 1936. Instructions according to the Siromani Course of the University of Madras was provided till 1941.

With the inception of the University of Travancore in 1938, the College was transferred to and placed under the maintenance and control of the University. Arrangements were made for providing instruction for the Mahopadyaya Title Examination of the Travancore University and provisions was made for study of the different Sastras such as Nyaya, Vyakarana, Sahitya, Joytisa and Vedanta. The Vedanta branch for the Mohapadhyaya Examination was opened during 1943.

In 1948 Government constituted a committee to enquire in to the position of Sanskrit Education in the State and to formulate proposals for the reorganization of Sanskrit Schools and Colleges with a view to the promotion of Sanskrit studies as in integral part of the scheme of Secondary and Collegiate Education. The committee submitted its report to the Government and Government approved these recommendations of the committee and accorded sanction to the raising of the status of the Sanskrit College to that of a full degree College. Special care was taken by the committee for reorganization to see that the content of the new course envisaged was the same as that of the Mahopadyaya courses prevalent till the reorganization as far as studies in Sanskrit were concerned. The services of Sri. N. Gopala Pillai M.A., the Principal of the institution deserve special mention in this context.

The College began to function as a full-fledged First Grade Degree College giving instruction up to M.A. in Nyaya and Vedanta from 1956. On Sri. N. Gopala Pillai's retirement in 1957, Dr. P.K. Narayana Pillai took charge as Principal. M.A. Courses in Vyakarana and Sahitya were started in 1962. Degree in Jyothisha was started in 1980.
The Library of the college has thousands of research and individual works. The Library is going to be digitized soon. Rare books in sanskrit like the Vedas are the main attraction of this archaic Library.