At a time when the existing colleges in Thrissur were not adequate enough to meet the requirement of the student population who were desirous of higher education, strong public demand and enthusiasm of some prominent citizens prompted the formation of a committee to consider establishing new centre of learning. His Highness Sree Kerala Varma, the Maharajah of Cochin was happy about the idea and sanctioned a grant of one lakh rupees and a loan of five lakh rupees (later converted as grant) and sufficient timber for the construction of building. Further, he allotted the ‘Merry Lodge Palace’, the residence of Rajarshi Sri. Ramavarma, the abdicated Maharajah of Kochi, who was in power till 1932 and the surrounding greenery to make abode for this centre of learning. The College was named ‘Sree Kerala Varma College’ after the founder H.H. Sree Kerala Varma. The golden words inscribed on the ‘Merry Lodge Palace’ “Pure be my life for ever” became the motto of the college to commemorate the principles of the former occupant of the palace.
The college got affiliation to the Madras University with none other that Kavithilakan Prof. P. Sankaran Nambiar at the helm as Principal. The College got inaugurated on 11th August 1947 quite unceremoniously by giving admission to a student, Miss V.K. Malathy.
Intermediate and B.A. Juniour courses were begun in 1947. In 1948, B.Com. and B.A. (Music) courses were started. A course in Music was to be started for the first time in Kerala in this college. But in 1952-53, the course in music was terminated. Courses in Science were started in 1953-54. The first post graduate courses commenced in 1965. M.A. in English and M.A. in Economics were the first P.G. courses in this college.
Meanwhile, the management of the college was undergoing various stages of transition. Though the committee got the Authority of Maharajah of Cochin as “Sree Kerala Varma College Senatus” in 1947, the management of the college was handed over to the Devaswom Department on 08-11-1948. With the integration of the Tranvancore and Cochin States on 01-07-1949, Cochin Devaswom Board was placed under a Board and control of the College was rested with the Board.
After the formation of Kerala State in 1956, the College got affiliated to the Kerala University. Subsequent to the establishment of University of Calicut on 23-07-1968, the College became affiliated to it.
The college celebrated its Silver Jubilee in the Year 1972-73 and the Golden Jubilee in the year 1997-98. 2007-08 was the Diamond Jubilee year of the College.
Now, the College is leading educational institution in our state. There are sixteen degree courses and eight post graduate courses.
In 2009 January, the college was awarded the highest grade ‘A’ by the National Assessment and Accreditation Council (NAAC).