It is one of the oldest learned societies in Sri Lanka with a history of over 160 years.
It was established on 7 February 1845, paralleling the Royal Asiatic Society of Great Britain and Ireland to further oriental research as the Ceylon Branch of the Royal Asiatic Society.
It pioneered the studies on the Veddas (the aborigines of Sri Lanka), an English translation of the Mahavamsa (the Great Chronicle of Sri Lanka), Study of the Etymology of the Sinhalese Language, Research and Translation of the Dutch Archives, Maldivian Studies, Toponymy of Sri Lanka and Translations of Pali Buddhist Commentaries into Sinhala.
At its early stages, its membership included the British governors of Ceylon and high civil, judicial and medical officials of the government.
In 1988, it was renamed the Journal of the Royal Asiatic Society of Sri Lanka.