It is presently located in a wing of the Palazzo della Pilotta in the center of the city.
The Academy originated in 1752, as a private art school called the Scuola Lombarda.
Five years later, it was reorganized as an academy under the patronage of Phillip of Bourbon, Duke of Parma.
During the Napoleonic occupation of 1803-1814, it was suppressed, but was reinstated under the patronage of Maria Louisa of Austria in 1816.
After 1877, it underwent a variety of changes: splitting into several separate departments, including a school of applied industry.