The School founded in March 1857, was named after Sir Jamsetjee Jeejebhoy, a businessman and philanthropist who donated Rs.

He later became famous for copying the murals in the Ajanta Caves temple complex, a project which lasted from 1872 to 1891, and which the School's students assisted in.

Also in 1866, Lockwood Kipling, who had become a professor of the School in 1865, established three ateliers for (i) Decorative Paintings, (ii) Modelling; and (iii) Ornamental Wrought Iron Work, and became its first dean.

The building was designed by architect George Twigge Molecey,[4] in neo Gothic architecture.

[5] The School campus, including the Kipling House, better known as the Dean's Bungalow, is classified as Grade II heritage structure by the Government of Maharashtra, and underwent a restoration in 2002-2006, and again in 2008.

In 1900, the School offered its first course in architecture, taught by John Begg, later Consulting Architect of Bombay and of the Government of India.