It was established as a polytechnic in 1931, then known as Morvi Technical Institute (MTI) and was upgraded to a full-fledged degree engineering college in 1951 when the Maharaja Thakore Shri Sir Lukhdhirji Waghji Sahib Bahadur of Morvi state donated his palace with 40 acres (160,000 m2) of land on the bank of river Machhu and the institute was named after him.
In 1951 Maharaja Thakore Shri Sir Lukhdhirji Waghji Sahib Bahadur of Morvi met Professor Sunder Singh Bhatia from the Dayalbagh Educational Institute and asked him to upgrade the Morvi Technical Institute (MTI) to a full-fledged degree engineering college and become its first principal.
College Morbi has several other important organizations and cells which are run jointly by students, alumni and institute and cater to the purpose as defined in their respective charter.
The association organizes reunion every year and along with it they also organize 'Annual Gold Medal Award Function' in which toppers of the most recent graduated batch are awarded a gold medal and a certificate by the alumni association.
College sports teams have bought laurels in various games like Cricket, Kabaddi, Kho-Kho etc.