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The college was founded in 1862 as a Lutheran parochial school at Red Wing by Eric Norelius, pastor.
In 1865, on the 1,000th anniversary of the death of St Ansgar, known as the "Apostle of the North", the institution was renamed and incorporated as St Ansgar's Academy.
In April 1873, the college was to be renamed Gustavus Adolphus Literary & Theological Institute in honor of King Gustavus Adolphus of Sweden once the final location and buildings were secured.
The Gustavian Weekly, first published in 1920, is the campus newspaper.
On its 50th anniversary in 1926, Old Main underwent a renovation from funds provided by the Minnesota Conference.
O.A. Winfield, acting president 1943–44
In 1962 it became a college of the Lutheran Church in America, when the Augustana Synod merged into that body.
At the urging of several prominent Nobel laureates, the foundation granted the request, and the first conference was held at the college in January 1965.
On January 8, 1970, the Auditorium was completely gutted by a fire, after which it was not rebuilt.
On March 17, 2008, the cross that was atop the spire was hung from the ceiling in Christ Chapel during a service marking the 10-year anniversary of the tornado.
Gustavus placed 8th in the 2008–09 Learfield Sports Directors' Cup standings.
In 2009 students founded Big Hill Farm, which grows produce for the cafeteria and aims to connect the campus to sustainable agriculture.
On March 26, 2014, Gustavus announced it would not continue its men's and women's Nordic skiing team.
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| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| St. Norbert College | 1898 | $71.9M | 933 | 22 |
| College Of Saint Benedict And Saint John’s University | 1857 | $75.6M | 200 | 26 |
| Albion College | 1835 | $56.3M | 795 | 19 |
| Camp Adventure Child and Youth Services | - | $157.6M | 1,000 | - |
| Northern Michigan University | 1899 | $110.9M | 1,650 | 4 |
| University of Wisconsin-Stout | 1891 | $87.9M | 2,160 | 270 |
| University of North Dakota | 1883 | $30.4M | 3,465 | 542 |
| St. Catherine University | 1905 | $129.4M | 2,000 | 17 |
| Saint Mary's University of Minnesota | 1912 | $89.3M | 1,028 | 24 |
| Bemidji State University | 1919 | $23.0M | 863 | - |
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Gustavus Adolphus College may also be known as or be related to Bernadotte Folke Memorial Library, GUSTAVUS ADOLPHUS COLLEGE and Gustavus Adolphus College.