The line links the Central square with the terrace by the main building of ETH Zürich, which was formerly called Eidgenössisches Polytechnikum, and from which the railway derives its name.

Previous names for the line include the SBG Polybahn and the Zürichbergbahn.

In 1886 a concession for the railway was issued, and the line was opened by the Zürichbergbahn company in 1889.

The funicular was initially water-driven (filling water in a ballast tank under the carriage at the top station, emptying at the bottom); the railway was converted to electric drive in 1897.

[6] In 1950 the Zürichbergbahn company began losing money, and eventually (in the 1970s) decided not to renew the concession.