The drawing and painting course of study offered at the Technical College in Maradana since 1893 was re-established, with broad educational objectives as the Government college of Fine Arts under the Ministry of Education in 1953 at 46, Horton Place, Colombo 07. This institution was engaged in teaching Fine Arts, Arts and Crafts as well as Oriental Music and Traditional Dance. The music and dancing courses were started at No. 21 Albert Crescent. The proximity of the museum, the Lionel Wendt Theatre, the Tower Hall Theatre, the Broadcasting Corporation, the Art Gallery, and the Viharamahadevi National Park for outdoor drawing and painting activities resulted in the decision to locate the institution in Cinnamon Gardens, Colombo 7. The administrative work of the institution was withdrawn from the Ministry of Education and was given over to the Ministry of Local, Government and Cultural Affairs in 1956. The institution was elevated to the level of an institution of higher education - Sri Lanka Jathika Kalayathanaya - in 1960 under the Ministry of Cultural Affairs on the recommendation of the P De S Kularatne Commission Report. The Sri Lanka Jathika Kalayatanaya was set up as a separate Institute of Higher Education under the Ministry of Higher Education in 1965.
Subsequently, the institution was divided into the Government College of Arts and Crafts, the Government College of Music and the Government College of Dance and Ballet. On the recommendation of Professor H. G. Hanmante, Head of Sir J J Institute of Applied Arts and S C Palskar, Head of Sir J.J. College of Fine Arts who arrived in 1973 under the Colombo Plan Programme for the reconstitution of the Government College of the Arts and Crafts, the Government College of Music, the Government College of Dance and Ballet and the Ramanathan Academy of Jaffna were amalgamated and the Institute of Aesthetic Studies was set up under the University of Sri Lanka. In 1979, the Institute of Aesthetic Studies became affiliated to the University of Kelaniya while the Ramanathan Academy was taken under the University of Jaffna. The Sripali Campus at Horana was attached to the Institute of Aesthetic Studies in 1979 but was later attached to the University of Colombo in 1994. The institution functioned in accordance with the conditions laid down in Clause No. 18 read in conjunction with Clause No. 140 of the Universities Act No. 16 of 1978.
While the Department of Art and Sculpture and the Library premises of the Institute of Aesthetic Studies remained at No. 46 Horton Place, the two Departments of Music and Dance and the Establishment and Administration Sections were relocated at No. 21 Albert Crescent, Colombo 7. Finally, the Institute of Aesthetic Studies obtained the status of an autonomous university on 30 June 2005 and was named the University of the Visual & Performing Arts. It was instituted by Special Gazette No. 1400/24 of 2005.