In 1957, the school was renamed in honor of the pedagogue Agrippina Vaganova, who cultivated the method of classical ballet training that has been taught there since the late 1920s.

Many of the world's leading ballet schools have adopted elements of the Vaganova method into their own training.

Other renowned 19th-century dancers and ballet masters who taught at and were influential in the development in the school include Charles Didelot, Jules Perrot, Arthur Saint-Léon, Lev Ivanov, Marius Petipa and Mikhail Fokine.

[citation needed] Since 1836, the school has been situated at 2 Rossi Street in St. Petersburg (known as Leningrad after 1924 until the collapse of the Soviet Union).

There are a number of variations in the name of the school, but the official title in current use in the English-speaking world is Vaganova Ballet Academy.

Students are evaluated at the end of each academic year and a decision made as to whether they will advance to the higher grades which have progressively fewer openings.