Founded by Arya Samaj as the school of Dayanand Anglo Vedic on 1 June 1886,[1] It was later renamed Dayanand Anglo Vedic (DAV) College after Hindu leader Dayananda Saraswati.

[1] The college was nationalized by the Zulfiqar Ali Bhutto regime in 1972.

It is operated by the Ministry of Education (Higher Wing), Government of Punjab, Pakistan.

On 17 December 1928, Bhagat Singh, Shivaram Rajguru and Sukhdev Thapar awaited at the entrance of this college for a plan to kill Superintendent of Police James A Scott.

However, in a case of mistaken identity, the plotters shot John P. Saunders, an Assistant Superintendent of Police, as he was leaving the District Police Headquarters across the street, and ran towards Government College.