It is located in the Rotkvarija neighborhood, near city centre on Jovana Subotića street 3–5, in Novi Sad, the capital of the Serbian province Vojvodina.

The theatre was established in 1974, and its first play was Örkény István's Macskajáték, which was held on 27 January 1974.

In 1985, the company moved to the premises of the former Ben Akiba Theatre and has since become its permanent headquarters.

Initially created to nurture Hungarian language, culture, traditions, Novi Sad Theatre has become not just a gathering place for the Hungarian elite but has also transcended the national-linguistic framework and is now considered one of the most influential and relevant theaters in Serbia and in the region, with international significance.

[1] In October 2013, extensive restoration and renovation efforts started with the aid of the city of Novi Sad, as well cooperation with local Hungarian and Serbian political parties.