The orchestra's name has its origins in the Tonkünstler-Sozietät, Wien, which was organizing concerts in the era of Haydn and Mozart.

The first concert was performed in 1907 at the Musikverein presenting works of Karl Goldmark, Edvard Grieg, Franz Liszt and Ludwig van Beethoven.

During World War I, the orchestra had to merge with the so-called "Vienna Concertverein" due to financial hardships.

It was doing concerts throughout World War II, mostly with the Kraft durch Freude movement and in supporting the Wehrmacht.

In November 2013, the orchestra announced the appointment of Yutaka Sado as its next principal conductor, effective with the 2015–2016 season, with an initial contract of 3 years.

In June 2023, the orchestra announced the appointment of Gabel as its next principal conductor, effective with the 2025-2026 season, with an initial contract of four years.