IMCINE was established on March 25, 1983, alongside the Instituto Mexicano de la Radio and Instituto Mexicano de la Televisión.

The goals of the agency are to promote and grow national film production; establish development policies; support the production and distribution of Mexican films in and out of the country; promote Mexican cinema worldwide; and support cinema itself by organizing events across the country.

[1] In 1989, the agency was restructured and placed under the National Council for Culture and Arts (CONACULTA).

After the restructuring, the agency became more successful in its efforts, with an increased presence of Mexican films and festivals and more event programming, and a new Federal Cinematography Law in 1992 that replaced previous legislation dating to 1949.

[2] In 2014, of the 130 films produced in Mexico, 80 percent received government support through IMCINE.