The first public Library in Greece was founded in the island of Aegina in 1829 by the then Governor I. Kapodistrias and in 1834 was moved to Athens where, before ending up to the University building, it had been temporarily housed in various old buildings. In 1884 the then Prime Minister Charilaos Trikoupis took the final initiative in constructing the Library, with donations offered by Panagis Vallianos, a Greek national living in Russia and by the Public Endowment Fund, which helped to finish the project.
Today, it houses the the most complete Public Library of Greece.
There have been sporadic interventions for the building's remodeling and modernization as well as for the reconstruction of its interior to create new bookstands. Recently there had been insulation works against the ceiling's moisture.
By a ministerial decree of 1952, the building was identified as "in need of special protection" according to the relevant 1950 Law.