It was established in 1926, with its founding principle tracing back to the historical Academy of Plato, and operates under the supervision of the Ministry of Education.

[2] The building was designed as part of an architectural "trilogy" in 1859 by the Danish architect Theophil Hansen, along with the University and the National Library.

Works resumed in 1868, but the building was not completed until 1885, at a total cost of 2,843,319 gold drachmas, most of it provided by Sinas, and, after his death, by his wife Ifigeneia.

The Greek neo-classical sculptor Leonidas Drosis sculpted the principle multi-figure pediment sculpture, on the theme of the birth of Athena, based on a design by painter Carl Rahl.

[4] Interior murals and paintings were done by the Austrian artist Christian Griepenkerl.On 20 March 1887, the building of the "Sinaean Academy", as it was called, was delivered by Ziller to the Greek Prime Minister, Charilaos Trikoupis.