During the colonial era, most of South India was ruled by the Governor of Madras. The demand for higher education in Madras Presidency, and specifically for an English college, was first voiced in1839 in a petition to Lord John Elphinstone, the Governor at the time. It was signed by 70,000 native inhabitants and was presented at a time when the government was contemplating "some effective and liberal measures for the establishment of an improved system of national education".

The University Board was constituted in January 1840. This was the precursor of the present Presidency College, Chennai. However, a systematic educational policy for India was formulated only 14 years later when there was a recommendation for the establishment in the universities of professorships "for the purposes of the delivery of lectures in various branches of learning including vernacular as well as classical languages". As a result the University of Madras was created in 1857 after the model of London University.

In 1912 endowments were made to the University to establish departments of Indian History, Archaeology, Comparative Philology and Indian Economics. In all there were 17 University departments, 30 University teachers, 69 research scholars and 127 University publications in that year. Later, the research and teaching functions of the University were encouraged, and the gains of the University were consolidated by the enactment of the Madras University Act of 1923.

However, Indian independence in 1947, the setting up of the University Grants Commission in 1956 and changes in political, social and cultural milieu had brought several amendments to the University of Madras Act of 1923 to permit qualitative and quantitative changes in its jurisdictions and functions.

Added to the mission statement of the University were the following:
The furtherance of knowledge in the various disciplines and subjects remains the Universities primary goal. In the search for new knowledge, encourage and support continuously (a) socially relevant education (b) improvement of the quality of education and (c) an equitable access to all segments of society to higher education.

Provide leadership in higher education to its affiliated colleges and encourage, support and wherever necessary, regulate them to adhere to established norms in conducting courses of study as well as other related matters.

Take holistic decisions and actions by bearing in mind the primary goal and remain accountable to the students, teachers, employees, funding agencies, society as a whole, and the Government, and be dictated by a democratic process moderated by rectitude. Be responsive to the changes in the frontiers of knowledge, nationally and internationally.