The origins of the University date back to 1483, when King Ferdinand II of Aragon authorized the foundation of the Estudi General Lul·lià [ca; es] in Palma, Majorca.

There was no higher education institution in the Balearic Islands until 1949, when the Estudi General Lul·lià was reinstituted under the auspices of the University of Barcelona.

Construction of the UIB campus began in 1983 on private land located next to the Valldemossa road, between the former possessions of Ca's Jai and Son Lledó, in the municipality of Palma.

For a long time, the only way to access the campus was by car or by the EMT [ca; es] bus service from Palma.

The UIB metro station was inaugurated on April 25, 2007, but was closed later that year due to structural problems caused by flooding.

Also on the campus are the Institute of Educational Sciences, for teacher training, the Cultural Activities Service, which organizes the Open University, a student residence (Bartomeu Rosselló-Pòrcel) and a restaurant.

It has signed cooperation agreements with most Spanish universities and with research centers in Europe, America, Africa and Asia.