It is located on Mashtots Avenue at the central Kentron District of the capital city of Armenia.

[3] The first exposition consisted of works from the 1960s, created by artists who originated from Armenia and the Armenian Diaspora.

These artists include Minas Avetisian, Ashot Hovhannisian, Martin Petrosian, Hakob Hakobian, Gayane Khachaturian, Vruyr Galstian, Henry Elibekyan, Robert Elibekyan, Haroutiun Galentz, Rudolf Khachatrian, and Ashot Bayandour.

The museum grew when the following generation of artists added their works in the 1980s: Sargis Hamalbashian, Artur Sargsian, Ararat Sarkissian, Marine Dilanian, Albert Hakobian, Samvel Baghdasarian, Arevik Arevshatian, Ruben Grigorian, Kamo Nigarian, Armen Gevorgian, Tigran Matulian, Teni Vardanian, Gabriel Manoukian, Nina Kchemchyan and Ayvaz Avoyan.

In the time since its foundation, many famous artists have visited the museum, including the director of the Hermitage Museum Boris Piotrovsky, writer Chingiz Aytmatov, Italian poet writer and screenwriter Tonino Guerra, Mexican painter David Alfaro Siqueiros, Italian film director Michelangelo Antonioni, Italian artist Renato Guttuso, William Saroyan, Tigran Mansuryan, and Aghasi Ayvazian.