Established in 1963 by King Saud bin Abdulaziz as the College of Petroleum and Minerals, it is ranked among the most prestigious academic institutions in Saudi Arabia.

[8] The first students were admitted on September 23, 1964, when 67 young men enrolled in what was then named the College of Petroleum and Minerals (CPM).

[9] The college was elevated to university status in 1975 when it expanded its academic offerings in science, engineering, technology, business, and management.

[11] Part of this transformation plan presents an important milestone in the history of the university with the inclusion of female students in the engineering and technical academic programs.

[14] Since 2020, the university has introduced new aspects to the academic programs through undergraduate concentrations (CX) and professional masters (MX).

[citation needed] Additionally, KFUPM has launched an effort to migrate some of its courses into other instructional methods, such as inquiry-based learning (IBL), where research on the topics is encouraged to enhance the class time with discussions, debates, and questions and answers.

KFUPM offers 32 one-year professional master's degrees (MX)[16] in several fields such as Artificial Intelligence, Supply Chain Management, Quantum Computing, Smart and Sustainable Cities.

KFUPM is improving the quality of the student intake by attracting the most outstanding high school graduates by introducing an early admissions system and accepting winners in international scientific Olympiad competitions.

In addition, Dammam Community College is under the auspices of King Fahd University of Petroleum and Minerals as a fully approved academic entity by the Minister of Higher Education.

[31] King Fahd University of Petroleum & Minerals organized the international advisory board (IAB) in March 2007.

AMAAD is a mega real estate investment project of KFUPM Endowment and it converges the resources and experiences of the most prominent establishments in the kingdom to foster innovation through an energy and engineering hub spread across an area of 214,000 sqm in Dhahran.

The park is designed to meet the demands of modern society that features a simple yet luxurious lifestyle for offices, residential, hospitality, as well as F&B and retail.

These scholarships[43] cover all tuition fee, living cost, monthly expenses, medical coverage, free textbooks, subsidized meals in the university cafeteria, funds for projects and along with other privilege's.

DTVC also plays an important part in revitalizing the role of entrepreneurship in the research system by rejuvenating and encouraging a spirit of developing new business opportunities for faculty, students, and stakeholders from outside the university.

Since its establishment in March 2007, the IAB membership has included renowned academics and some of the most influential local and international corporate figures.

The IAB has guided the development of action plans and specific strategies on key educational and research areas of national interest.

The institute also provides access to physical space and professional resources to students, faculty members, and entrepreneurs for the inception and growth of high potential startups.