It was established by the Sisters of St. Joseph in 1892 with the founding goal of taking care of the sick and the poor of Toronto's inner city.

[1] The hospital provides tertiary and quaternary services in cardiovascular surgery, neurosurgery, inner city health, and therapeutic endoscopy.

The hospital serves a diverse population, which includes the affluent condominium complexes in Harbourfront, the underprivileged of the inner city of Regent Park, and the gay and lesbian community in Church and Wellesley.

[2] The physician-in-chief is Sharon Straus,[3] the surgeon-in-chief is Najma Ahmed, the vice-president of research and innovation is Ori Rotstein,[4] and the president and CEO is Tim Rutledge.

Originally an old Baptist church, the hospital on Bond Street was created in response to care for the poor population in the south end of Toronto.

Thereafter, the hospital opened a school for medical record librarians, the first in Canada, and participated in the preparation of dietitians and X-ray and laboratory technologists.

In March 2010, the hospital re-branded itself to simply St. Michael's to reflect its growing movement into medical research.

[17] The hospital is also home to the Li Ka Shing Knowledge Institute, with a state-of-the-art building, opened on October 18, 2011.