It was founded in 1917, and was originally housed in the building now known as the Palacio de las Academias.

Its current buildings were both designed by architect Carlos Raúl Villanueva,[1] a 1930s Neoclassical structure and a 1970s Brutalist structure.

In the 1970s the Museum moved out of the neoclassical building to provide a home for the newly established National Art Gallery.

It has reoccupied this space since the inauguration of a new building for the National Art Gallery in 2009.

The collections include ceramics and ancient Egyptian art.