Its current Classicist and Neo-baroque building built between 1847 and 1857, is in the city centre, in Széchenyi street and is home to not only theatrical plays, but also to events like the International Opera Festival of Miskolc.

With money from the insurance company and public contributions, construction of a new building has started on 3 September 1847, with a design of József Cassano, but was slowed by the 1848 Revolution and lack of funds.

After a decade of construction, the theatre opened on 3 September 1857 with the play Marót bán by Mihály Vörösmarty.

The theatre was often home to the guest performances of Déryné Széppataki Róza, the most known actress of the era.

1990 saw a further extension, enlarging the theatre to twice of its former floor space, 16 000 square meters, including five separate stage halls.