Acharya Girish Chandra Bose founded Bangabasi School in 1885. The school started in a rented house in Bowbazar Street with six teachers and twelve students. The school was upgraded into a college in 1887. Girish Chandra had served the college as its Principal from 1887 to 1933, before he was nominated as Rector of the college in 1935. The College got affiliation for B.A, B.L. and M.A. courses to meet the requirement of the students. In the year 1903, the college moved to its present premises at 19, Scott Lane. After that there was a steady growth of the college with the introduction of the Honors courses in various subjects.
After the independence in 1947, three new branches of the institution were opened which, later changed into Bangabasi Morning College, Bangabasi Day College and Bangabasi Evening College. All of them are housed in the same building, except Bangabasi College of Commerce. The College became co-educational in 1979 and the college authority opened another commerce department. 1947, the year of India's independence, coincided with the diamond jubilee year of the college. The celebration was inaugurated by Chakravarthi Rajagopalachari, a lawyer, writer, statesman and the second Governor-General of independent India.