It was founded in 1946 by P. Carlo Balić, OFM, with the aim of promoting scientific, speculative and historico-critical studies of the Blessed Virgin Mary, and to promote Marian devotion, and connected from the beginning with the Congregation for the Doctrine of the Faith.

This task is carried out through the celebration of the International Marian Congresses and the publication of the respective Acts and other Mariological editions. In 1959, John XXIII awarded it the title of Pontifical, with the task of coordinating Marian studies promoted by various Mariological groups around the world. The statutes were approved by Pope Paul VI in and then revised in 1995. In accordance with the wish of John Paul II, the Academy extends its cooperation to all Academies and Marian Society in the world. The Academy is made ​​up of members, men and women, Ordinary and Co-opted. The number of Ordinary members may not exceed 80, of which at least 10 must live in Rome or Lazio. The President and the Secretary are appointed "ad quinquennium," renewable by the Supreme Pontiff and are presented by the Minister General of the Order of Friars Minor. The President of the Academy is a member of the Coordinating Council of the Pontifical Academies. All members of the Academy are invited to attend the annual Public Session of the Pontifical Academies, organized by the Pontifical Council for Culture.