The Islamic University of Science and Technology was promulgated by an act of Jammu and Kashmir State Legislative Assembly in November 2005.

Since the state of Jammu and Kashmir was turned into a Union territory post 5 August 2019, The Lieutenant Governor (LG) of the UT has assumed the role of chancellor of the university.

On January 1 2025, IUST became the first state university in Kashmir to get a license from Ministry of Communication to establish a community radio station (FM 91.2 MHz) on its campus.

These centres are mandated to impart a core curriculum in humanities and offer degree programs and to promote advanced research.

On the one hand, the school offers a mathematics program geared for today's competitive job market; on the other, it makes a distinctive contribution towards understanding scientific progress and its impact within a wider social, political and historical surrounding.

Central library of IUST incepted its operations in 2005 at the academic block of the University and subsequently in 2010 from Skill and Enhancement Training (SET) building.