Since 1954, the building has served as a museum displaying a collection of historic tile art, particularly from the Seljuk period.

The madrasa and the Karatay Han, a caravanserai completed in the 1240s, are the largest extant monuments in Konya and its immediate regions.

[5] The portal, which is not joined to the body of the building, is similar to that of the Alâeddin Mosque; the stonework is likely the work of craftsmen from northern Syria in the 1220s.

[1][5] The tiles feature elaborate geometric motifs, as well as interlacing Kufic inscriptions along the base of the dome and around the oculus.

[1] The lower areas of the walls are decorated with hexagonal turquoise tiles adorned with gold ornamentation, most of which are inscriptions.

Around this main hall a number of doorways lead to what were formerly small private rooms or sleeping quarters for students, but these fell into ruin by the 20th century and their current form dates from a reconstruction in the 1970s.

[5][1]: 44 Since 1954,[6] the place serves as a museum where Seljuk tiles are united, while artifacts in stone or in wood are on display in Ince Minaret Madrasa, also in Konya.