Currently owned by Permodalan Nasional Berhad (PNB), the stadium has a lower and an upper terrace, with a total capacity of 25,000.

[3] The stadium was designed by American architect Stanley Jewkes, under the instruction of the first Prime Minister of Malaysia, Tunku Abdul Rahman.

Upon its completion, the stadium holds the world record for the tallest prestressed floodlight towers and the biggest cantilever shell roofs.

However, due to the boycott against the Soviet Union led by the United States, the country did not participate in the final tournament.

[7] In 1952, an ad-hoc committee was formed by the Kuala Lumpur Municipal Commissioners to study the proposal, and a report was released three months later.

[8] After the winning of the Alliance Party in the first general election in Malaya, Tunku, who was now the Chief Minister, started an advisory committee led by E.M. McDonald to study the possibility of building a stadium.

"[9] Although McDonald was concerned about the traffic congestion that might arise in the future, Tunku insisted that it was the perfect spot for the country's first stadium.

The construction of the stadium would also mean that a small part of the school ground of Victoria Institution would be acquired.

[9] The stadium was constructed from 25 September 1956 to 21 August 1957, and was designed by the then Director of Public Works Department, Stanley Edward Jewkes.

[11] Several engineers such as Lee Kwok Thye, Chan Sai Soo and Peter Low were also involved in the project.

The excavated soil was then transferred to the site of Masjid Negara which was originally a valley and was subjected to flooding issues.

[21] The stadium held two world records upon its completion: the tallest prestressed floodlight towers at 120 feet[14] and the biggest cantilever shell roofs.

[25][15] Engineer Lee Kwok Thye credited the Kongsi Woman, also known as Lai Sui Mui[a] for their role in the construction.

[30] The ceremony was attended by Prince Henry, Duke of Gloucester, representing the Queen of the United Kingdom, the Malay rulers of the nine states,[c] the last High Commissioner of Malaya Sir Donald MacGillivray, foreign dignitaries, members of the federal cabinet and Tunku Abdul Rahman himself.

The event was witnessed by more than 30,000 audience[36] and it was attended by the Yang di-Pertuan Agong, the Malay rulers, the Governor of Penang, Malacca, Singapore, Sarawak and Sabah, as well as the cabinet members, foreign diplomats and invited guests.

[37] The Proclamation of Malaysia, which was handed by the Yang di-Pertuan Agong,[38] was read out by the Prime Minister, Tunku Abdul Rahman.

[43] The seating capacity of the stadium was further increased in early 1986 with the addition of upper tiers rising into the airspace on the north, east and south terraces.

The Hong Kong League XI became the first team to win at Independence Stadium beating Cambodia with 6–2.

[62] On the next day, the Malayan national team play its first game at the stadium on a match against Burma, which finished 5–2.

[66] The match took place on 8 August 1963 (although the federation only existed after 16 September 1963) on the first round of the 1963 Merdeka Tournament against Japan.

The stadium will host the rest of the matches as well as the final held on December 22, which ended with a tie between Burma and Thailand.

[68] In 1989, the Malaysia national football team won their fourth SEA Games goal medal, the first at the stadium.

[69] The first Olympic qualification match held at the stadium was the preliminary round between Malaysia and Thailand on 12 October 1964, which resulted a draw.

In February 2015, Kuala Lumpur FA returned to Independence Stadium for the first time in 17 years for the team's opening Premier League match of the season against Sabah.

About 20,000 spectators witnessed the fight in the stadium, including the Yang di-Pertuan Agong, the Prime Minister, several kings and governors, as well as Joe Frazier, Ali's former adversary.

[95] Celine Dion performed on 13 April 2008 for a total audience of 48,000 as a part of her Taking Chances World Tour.

[99] Other Western artists who have played the stadium includes Jennifer Lopez,[100] Cliff Richards, Scorpions,[101] Metallica,[102] My Chemical Romance[103] and Bon Jovi.

[112] On the same year, South Korean group Big Bang held their MADE (V.I.P) Tour fan meeting at the stadium.

[114] Malaysian singer Michael Wong held his Lonely Planet Concert Tour on 10 November 2018 at the stadium.

[116] Other Asian singers that had performed at the stadium include Kelly Chen, Beyond,[117] Faye Wong,[118] Wonder Girls, Jacky Cheung and Mayday.