In 1897, Enrique Matta Vial, the then undersecretary of public instruction, secured a decree for the establishment of the National Academy of History.
Despite the initial decision, the concept of forming an academy persisted and nearly came to fruition around 1930, largely due to the keen interest of several members, notably Jaime Eyzaguirre.
The Royal Spanish Academy extended an offer to the society, which was subsequently declined.
The inaugural session of the Chilean Academy of History occurred on January 4, 1933, under the sponsorship of the Catholic University.
The first board of directors was elected, comprising Miguel Varas Velasquez, Juan Luis Espejo, and Jaime Eyzaguirre, with Agustín Edwards Mac-Clure serving as president.