The building was constructed on the site of demolished old structures at the beginning of Fedoseevskaya Street. The project of the palace was developed by the company 'Antika-plus', and the author of the project was Leonid Gornik.

Construction began in the spring of 2008 and was completed in 2010. The construction of the building cost 2.2 billion rubles.

Since 2011, on August 30, Republic and City Day, a gala concert of the international opera festival 'Kazan Autumn' is held in the square in front of the Palace. This open-air event is accessible to everyone. The first concert featured Russian prima donna Lyubov Kazarnovskaya and Italian tenor Leonardo Gromenya, accompanied by the State Symphony Orchestra of Tatarstan.

The eclectic and monumental exterior of the building, with two symmetrical wings and a central part with a portal and classical dome, includes various small architectural forms. In shape and architectural elements borrowed from Empire and Classicism, the building resembles the Petit Palais or one of the wings of the Hofburg in Vienna, and from the side, the Vittoriano in Rome.

The building is located at the foot of a 15-meter hill, with a square laid out in front of it. Unlike the exterior, the interior is executed modestly, primarily using inexpensive materials. The left part of the building houses the Ministry of Agriculture and Food of the Republic of Tatarstan, while the right side contains subordinate organizations.

The palace is equipped with bright architectural lighting at night. The central element, a 20-meter bronze tree illuminated with green light, symbolizes foliage. The height of the central spire reaches 48 meters.