Music stalwarts like Tiger Varadachariar, Harikesanallur Muthiah Bhagavathar, Parur Sundaram Iyer, and S. Rajagopala Iyer founded the institution to worship and propagate the music of Thyagaraja through concerts and hari kathas.

The annual aradhana and annadanam on Bahula Panchami were held here also, so that musicians who could not go to Thiruvaiyuru for homage, the birthplace of the saint could participate.

With the help of philanthropists, a large property in Mylapore was bought for the samajam. The area, surrounded by homes of musicians, came to be known as Sri Thiagarajapuram.

Paramacharaya Sri Chandrasekhara Saraswathi of Kanchi Kamakoti Math, suggested that a temple be built within the precints, with a panchaloga idol for worship.

Initially, a hall with a thatched roof, funds raised through concerts by M. S. Subbalakshmi helped replace the thatched roof, and make it a permanent hall

Past Presidents include Maharajapuram Viswanatha Iyer and Semmangudi Srinivasa Iyer. The current president is Dr. M. Balamurali Krishna and the chairman of the Trust Board is Mannargudi Sambasiva Bhagavathar.