Hanken's campus in Vaasa was established in 1980 aiming to develop business education in Osthrobotnia, a region with a large proportion of the Swedish-speaking population in Finland.

[4][5] Hanken was first awarded the European Quality Improvement System accreditation (EQUIS) in 2000.

The Association to Advance Collegiate Schools of Business accreditation (AACSB) was awarded in 2015.

The principal governance bodies of Hanken are the University Council, the Board, the Rector, and Deans.

The Board decides on most issues of a strategic nature, such as the activity and economic plan as well as the budget.

The Board is responsible for the economy of the School, the allocation of its funds, and appointing the Rector Ingmar Björkman [fi].

[11] Hanken's research and teaching are organised into four departments and one centre for Languages and Business Communication.

[16] The library's collection today is a hybrid of printed books and electronic resources, such as e-books, e-journals and databases with financial and company information.

[21] The Student Union of Hanken School of Economics (SHS) was founded in 1909 under the name of Kamratföreningen Niord.