It was officially opened on 25 February 2022 by Queensland premier Annastacia Palaszczuk, federal Capricornia MP Michelle Landry and Rockhampton mayor Tony Williams.

Deputy Prime Minister Michael McCormack, Capricornia MP Michelle Landry and Rockhampton Region mayor Margaret Strelow ceremonially commenced the demolition work at the site on 14 August 2019.

[13][14][15] Dignitaries in attendance included Queensland premier Annastacia Palaszcuk, her partner Dr Reza Adib, Queensland arts minister Leeanne Enoch, Senator Matt Canavan, federal MP Michelle Landry, state MPs Barry O'Rourke and Brittany Lauga, Darumbal elder Aunty Nicky Hatfield, former Rockhampton mayor Margaret Strelow, her husband Darryl Strelow, current Rockhampton mayor Tony Williams, and Rockhampton councillors Grant Mathers, Cherie Rutherford, Neil Fisher, Ellen Smith and Drew Wickerson.

[16] She also added that with international borders now re-opened after being closed due to the COVID-19 pandemic, the museum would be "top of the list" of Rockhampton's cultural tourism experiences.

[2] Williams said he thought Rex Pilbeam would have been "quite chuffed" if still alive to see the opening of the museum as he was the man "who planted the seed back in those early days".

[16] After the unveiling, Strelow said she felt a "little embarrassed" by her portrait hanging beside Pilbeam who she described as a "legend" for taking a "somewhat ungainly and dusty provincial city" and giving it structure during his thirty years as mayor by sealing the roads, installing curbing and channelling, constructing a sewerage system and building the Fitzroy River Barrage while also nurturing the soul of the city.

[17] The city's first art acquisition dates back to 1931 when former North Rockhampton mayor Edward Cureton Tomkins[19] donated an artwork which was originally thought to be a work by Sir Joshua Reynolds from around the 1780s but was later re-attributed to Lemuel Francis Abbott.

[16] The committee consisted of Pilbeam, art gallery director Don Taylor, Bishop John Baynton and architect Neil McKendry.

[16] Pilbeam took advantage of the scheme and persuaded 80 local individuals and community groups to contribute $2000 each to purchase a collection of artworks valued at $350,000.

[16] The collection consists of works by Sidney Nolan, Arthur Boyd, Charles Blackman, Judy Cassab, Lloyd Rees, Russell Drysdale and John Coburn.

[20][25] Since its opening, the directors of the Rockhampton Art Gallery have been Don Taylor, Dianne Heenan, Lawrence Bendle, Lisa Loader, Sue Smith, Tracy Cooper-Lavery and Bianca Acimovic.

[20] In 1990, the Rockhampton Art Gallery Trust was established which has been chaired by Fred Berry, Pamela Green, Charles Ware, Merilyn Luck and Dr Leonie Gray.