Created by the merger of Far Eastern College and the Institute of Accounts, Business and Finance, FEU became a university in 1934 during the term of its first president, Nicanor Reyes Sr.[2] The first accountancy school for Filipinos, the university has expanded its course offerings to the arts and sciences, architecture, fine arts, education, engineering, computer studies, graduate studies, tourism and hotel management, law, nursing, and medicine.

[10][11] Far Eastern College, founded in 1919 by Vicente K. Fabella (the first Filipino CPA), Nicanor Maronilla-Seva, Francisco Africa, Pedro Cortez, and Salvador Unson, had been a liberal arts college in Quiapo; while the IABF had been established (originally under the name Institute of Accountancy) by Francisco Dalupan Sr. and Nicanor Reyes Sr., then head of the Department of Economics at the University of the Philippines, with a number of other prominent educators in 1928.

Due to the widening of the street that became Quezon Blvd., the original building designed and built by Architect Pablo Antonio Sr., National Artist for Architecture, was demolished and had to be rebuilt on a bigger scale on what is the present campus of FEU.

It is said that of all the Philippine colleges whose students and alumni volunteered for military service at the outbreak of the Pacific War in 1941, FEU men formed the greatest number.

The post-liberation years saw the renaissance of FEU with its massive expansion of facilities aimed at meeting the demands of modern and relevant education in the country and the increasing student population.

[12] In 1989, Nicanor Reyes Jr. introduced substantial revitalization to FEU that took place over a number of years, with renovation and modernization of facilities and grounds and upgrading of the university's educational standard.

The auditorium was upgraded to accommodate modern stage productions and the new twice-monthly presentations by local and international artists established by the President's Committee on Culture.

[21] FEU also continued to open several campuses in Silang, Cavite and Filinvest City in Alabang, and acquired Roosevelt College, Inc. in Rizal.

[29] The second endeavor entailed a partnership with Good Samaritan Colleges located in Cabanatuan City, Nueva Ecija, as part of their strategic plan.

It comprises the University seal meticulously crafted from solid bronze, situated atop a finely carved staff made from Philippine hardwood.

The Felipe Mendoza-designed chapel, featuring the striking Fatima mosaic on its facade by Vicente Manansala, the "Crucifixion of Christ" and "Via Crucis" paintings by Botong Francisco, and the stained-glass panels and mural crafted by Antonio Dumlao were recognized as part of this prestigious collection.

Furthermore, the brass sculptures by Manansala at the quadrangle and the bas-reliefs by Francesco Riccardo Monti in the Administration Building lobby were also honored as NCTs.

[32] The university maintains various facilities, such as an electronic library, various types of laboratories, an auditorium, audio-visual and multimedia rooms, technology-based gate security and enrollment system, and gymnasiums.

Pablo S. Antonio Sr. in creating the FEU campus buildings that reflected both the university's and the country's vision and showed his personal transition from Art Deco to the International Style.

The outdoor stairs that joins the walkway at the second floor has layers of thin concrete slabs that swirl in waves above the rigid geometry of the handrail.

[35] One work is a mural done by Antonio Gonzales Dumlao, which conveys the university's mission; while Italian sculptor Francesco Riccardo Monti did a bas-relief on the lobby depicting the history of the Philippines.

Art Deco features abound in the design of the Auditorium and include the gradual curves, the ribbed piers and geometric volumes and patterns.

At present, it still houses the Institute's Virtual Integrated Nursing Education Simulation Laboratory (VINES) and is dominantly occupied by FEU High School.

It also became the venue of major theatrical productions like Bastien and Bastienne – created by two National Artists, Nick Joaquin (on words) and Cesar Legaspi (on scenic designs).

To this date, the Auditorium upholds this legacy by accommodating more notable performances from local and international names.Within campus is the Student Council Association (SCA) Chapel, which was also designed by Arch.

His painting the 14 Stations of the Cross and the Crucifixion encompasses 260 degrees of one's visual range[41]meanwhile its façade bears a richly colored tile mosaic of Our Lady of Fatima by Vicente Manansala.

Erected in commemoration of the University's 40th anniversary, it consists of a 65-foot flagpole on a platform surrounded on all sides with brass sculpture, also done by Manansala, which interprets the late founder's philosophy on education.

[41] Located on the second and third floors of the Nicanor Reyes Hall, the Library has a collection of books that falls under Circulation, Reference, Filipiniana, and Periodical sections.

GE courses emphasize the development of functional knowledge and foundational skills, placing both humanities and sciences content as a means for students to showcase critical thinking and contextualization abilities.

The university has an open admission policy, welcoming a broad spectrum of students without rigorous entrance exams, promoting inclusivity in higher education.

Scholarships are granted to academically qualified students, financially challenged yet deserving individuals, and university representatives in different fields of service and interests.

[84] Among the many athletes who have attended FEU are Alberto Nogar Sr, Lydia De Vega, Elma Muros, Anthony Villanueva, and Johnny Abarrientos.

Since its establishment in 1928, FEU has produced national artists, Ramon Magsaysay Awardees, business tycoons, ambassadors, justices of the Supreme Court and other judicial bodies, technocrats in private and government sectors, finance wizards, acclaimed physicians, nurses, educators, theater and media luminaries and so many others in different fields of expertise.

Notable figures such as former Supreme Court Chief Justice Artemio Panganiban, business magnates Henry Sy (SM Investments), Lucio Tan (Fortune Tobacco and Philippine Airlines), Ambassador Alfonso Yuchengco (Yuchengco Group of Companies), CEO Benjamin Punongbayan (Punongbayan & Araullo), and Ramon Ang (President of San Miguel Corporation) have all been affiliated with the institution.

Anthony Villanueva (boxing), Felicisimo Ampon (tennis), Lydia De Vega (track and field), Johnny Abarrientos (basketball), Rachel Daquis (volleyball), and Janelle Frayna (chess) have all represented the university with distinction.