St. Joseph's College was started in 1882 by the French Foreign Missionary Fathers for the purpose of imparting higher education. In 1937, the management if the College was handed over to the Jesuits of Karnataka Province. The College is managed by the Bangalore Jesuit Educational Society.

The Society of Jesus (Jesuits) was founded by St. Ignatius of Loyola in 1540. Education of youth allover the world has been one of the main works of the Jesuits with their motto: "For the Greater Glory of God" (A.M.D.G.)

In 1950, Commerce as a subject was introduced into the curriculum of St. Joseph's College. In 1972, the Commerce department of
St. Joseph's College became an independent college and was namedSt. Joseph's College of Commerce. The classes which were held at Langford Road were shifted to 73, Brigade Road, (later to become 163, Brigade Road) hitherto known as St. Louis Boarding House, with 475 students, seven full-time and three part-time teachers.

The College aims at the integral formation of its students helping them to become men and women for others. St. Joseph's College of Commerce is a minority institution, primarily meant for the education of Catholic students. However, since its inception, the College has been imparting liberal education to students of all denominations without distinction of caste and creed.

The College has been affiliated to the P.U. Board/Bangalore University, but from 2008 St. Joseph's College of Commerce has been autonomous.

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