The College was established in 1938 in the same year Silliman acquired university status.

When the College opened, it offered courses in accounting, secretarial practices and economics.

In the years that followed, additional programs were added into its course offerings and various modifications were made in its organizational structure.

[1] By 1989, the College was already recognized as one of the top business schools in the country when the Department of Education, Culture and Sports together with the Professional Regulation Commission and the Board of Accountancy jointly awarded the college the Top Achievement Award for having achieved the third highest weighted averaging passing in the CPA Licensure Examinations for the years 1977 to 1988.

[1] At present, it is on Level III accreditation status, a Center of Development in Accountancy Education, and ranks 2nd in the nation based on CPA licensure examination results.