IST is the largest school of engineering in Portugal by number of enrolled students, faculty size, scientific production and patents.

[3] The Instituto Superior Técnico (IST) was created from the split of the Lisbon Commercial and Industrial Institute (IICL) into two schools.

Following the implantation of the Republic in Portugal in 1910, Alfredo Bensaúde, a professor of Mineralogy and Geology at the IICL, was invited by Manuel de Brito Camacho, Minister of Development in the Provisional Government, to create and lead a new technical school, as part of nationwide education reforms.

[11] In 1970, the minimum period for obtaining a bachelor's degree decreased from six to five years, and the number of students enrolled at IST significantly increased.

[11] The facilities in the Alameda campus had the greatest expansion in this decade, with the construction of the Civil Engineering and Architecture Pavilion and the North and South towers.

[9] In 2000, IST inaugurated a new campus in the municipality of Oeiras, specifically in the Taguspark, the first Portuguese science and technology park.

[13] Today IST is involved with several of Portugal's research, development and technology transfer institutions and offers a vast number of degrees in science and engineering areas, at undergraduate, master and doctoral levels.

IST is also part of several networks and international programmes to promote student mobility, both at undergraduate and postgraduate levels.

[16] IST inaugurated a second campus in the Taguspark, a science and technology park in Porto Salvo, in the Oeiras municipality, in 2000.

A free shuttle bus service connecting the Alameda and Taguspark campuses is available for exclusive use of the IST community.

[20] As of the academic year 2023–2024, two master's degree programmes use the facilities in this campus: Radiation Protection and Safety, and Science and Technology for the Cultural Heritage.

[31] In the present day, the AEIST organizes activities and initiatives in the areas of social responsibility, culture, sports, training, employability and recreation.

[59] IST alumni have held prominent positions in politics, research organizations and the business sector, in Portugal and internationally.

Three Prime Ministers of Portugal were IST alumni, of which one (António Guterres) currently serves as the Secretary-General of the United Nations.