It was founded by the Swiss Federal Railways (SBB) in 2001 and it is based in Windisch.
After lengthy discussions, a small railway museum was opened in 1918 in the service building of the Zurich freight yard on Hohlstrasse.
As the interest for a national transport museum became apparent in the 1950s, the SBB participated in the foundation of the Swiss Museum of Transport, which was finally inaugurated in Lucerne in 1959.
There the locomotives and wagons were maintained by the workshop staff and the train drivers, in some cases through voluntary work.
The transformation of the Swiss Federal Railways into a stock corporation in 1999 initiated a far-reaching restructuring process.