Strathmore College admitted its first students on 6th March 1961. It was then an Advanced-level Sixth Form College offering Science and Arts subjects. It was started by a group of professionals, who formed a charitable Educational Trust (now the Strathmore Educational Trust). Saint Josemaría Escrivá, founder of Opus Dei, inspired and encouraged them to start the College.

In March 1966, the first intake of twenty-five Accountancy students, joined the Sixth Form students, and began preparing for the examinations of the UK-based Association of Chartered Certified Account-ants (ACCA). At this time Strathmore College was unique as a fully integrated post-Form 4 institution offering both academic and professional courses. In 1977 the secondary section of Strathmore School began with 24 students.

In October 1982, owing to the increased demand from companies for the professional training of their employees, the College began evening courses in Accountancy, with 60 students sponsored by various companies.

In 1986, in response to a request by the Trustees, the Government of Kenya donated 5 acres of land on Ole Sangale Road, Madaraka Estate. The European Union (EU) and the Italian Government agreed to back the Madaraka Campus project. The donors were keen to support a co-educational College that would offer courses in Management and Accountancy. Kianda College, an undertaking of Kianda Foundation, which was planning new developments at the time, agreed to run their professional courses in the new Madaraka campus.

In January 1993 Strathmore College merged with Kianda College and moved to Ole Sangale Road, Madaraka Estate.

In August 2002 the Commission of Higher Education awarded Strathmore a Letter of Interim Authority to operate as a University with a Faculty of Commerce and a Faculty of Information Technology.

In April 2008, President Kibaki awarded the University its Charter  which details establishment and functions of the University; membership and governance, administration, financial provisions, and statutes of the University.