The institute's main objective is to practice and promote research on Greek archaeology, history, language and culture from antiquity until the present day.

Initially, some in the field of Classics in Finland were suspicious of the project, due to fears of the new institute depriving Villa Lante of its funding.

It was at this stage that a turn-of-the-century townhouse situated in Zítrou 16 was acquired, but it required careful renovation that took several years.

Housing for the students was first organised at a pension called Penelope, which was rented nearby in collaboration with the Swedish Institute.

The institute's own archaeological excavations started in 1999 in Paliámpela near Aréthousa.Subsequent field projects will be outlined below at the section ‘Operations’.

[8] The institute's residence, Koroneos-building (Koronaíos) is situated in the Gkýzin district in Athens on 25 Ioánnou Soútsou (37°59′30″N 23°44′39″E / 37.99167°N 23.74417°E / 37.99167; 23.74417).

[2] In addition to its first fieldwork project at Paliambela, the institute has carried out fieldwork at the temple of Zeus Stratios in Aetolia-Acarnania, in the wally of river Cocytus at Thesprotia, the Sicilian site of Naxos, the ancient port of Kyllene and the area near Asea and Arachamites in the Peloponnese, and the island of Salamis.

[9] In addition to the fieldwork projects, the institute's research has concentrated on topics such as the city of Athens in the Hellenistic and Late Antique periods, Greek epigrams from the Roman period, as well as the connections between modern Greece and Finland and the phenomenon of philhellenism.

The institute, the Koroneos-building and the Nordic library together contribute to the residencies of Finnish researchers, students and artists in Greece.