Founded by members of the Ukrainian diaspora in Munich, West Germany, Suchasnist was frequently smuggled into the Soviet Union and it was generally regarded as one of the preeminent magazines of Ukraine's emerging nationally-conscious population.

[3] The first decade of Suchasnist's existence was dominated by debates regarding interpretation of the Sixtier movement and whether the Ukrainian Soviet Socialist Republic should be recognised as legitimate.

Among the Ukrainian dissidents who had their works published in Suchasnist during this time period were Viacheslav Chornovil, Ivan Dziuba, Levko Lukianenko, Yevhen Sverstiuk, and Vasyl Symonenko.

[2] Within independent Ukraine the journal's status as a leading intellectual voice continued despite growing financial difficulties.

On 25 April 2012, during a press conference, chief editor Taras Fediuk [uk] announced that the journal would resume publication after a year and a half hiatus as part of an agreement with the Heritage-Integral publishing house.