Founded in 1965 as the Graduate Society, it achieved full college status in 2003 and adopted its current name from the then-chancellor of the university, Sir Peter Ustinov.

The college is located on Sheraton Park in Neville's Cross having previously based in Howlands Farm at the top of Elvet Hill.

[4] Ustinov is the only college in Durham to offer boarding to families and partners of its students and pride itself in an egalitarian and modern approach to collegiate life.

In 1965, William Bayne Fisher, a professor in Durham University's geography department, founded the Graduate Society and in its inaugural year, the total membership was 94 students: 86 men and 8 women.

There are reported to be over 100 nationalities represented in Ustinov College, including members from Thailand, Greece, the United States, Jordan and Nigeria.

[9] Historically, the postgraduate community (through its elected representatives, the House Committee) had a high degree of autonomy from college officers and was self-governing in many matters.

[18] In addition to this, a college scholarship is awarded in support of the Race, Crime and Justice Research Group,[19] which connects academics from across the north east of England.