The company was founded in 1997 but formed in its current state in October 2011 by the merger of the original Marvelous Entertainment with AQ Interactive, and Liveware.

[7][8] On December 22, 2011, MarvelousAQL Inc. announced the establishment of the overseas business department, with investment from Checkpoint Studios Inc., replacing the global strategy room, which dissolved on January 1, 2012.

[11] On February 1, 2013, MarvelousAQL Inc. established the digital contents business division.

[14] Tencent acquired a 20% stake of Marvelous via new shares, approximately US$65 million on May 26, 2020.

[15] On May 25, 2023, the company livestreamed its first ever digital showcase which featured the syn Sophia-developed Fashion Dreamer and several newly announced upcoming games including a couple of new IPs tentatively titled PROJECT MAGIA and PROJECT LIFE is RPG, several new entries in the flagship Story of Seasons and Rune Factory series, and Daemon X Machina: Titanic Scion, a sequel to the original Daemon X Machina.