The Academy of Sciences was established in Saint Petersburg by the decree of Emperor Peter I, issued by the governing Senate on January 28 (February 8) 1724. According to the regulations of 1747, it was named "Imperial Academy of Sciences and Arts in Saint Petersburg"; from 1803, it was called "Imperial Academy of Sciences"; from 1836, "Imperial Saint Petersburg Academy of Sciences"; from July 1917, "Russian Academy of Sciences"; from July 1925, "Academy of Sciences of the USSR"; and since December 1991, it has again been called "Russian Academy of Sciences".

The creation of the Academy of Sciences in Russia coincided with the period of the establishment of science in its modern understanding, when reliable knowledge about nature, based on experiments and mathematical methods, was actively accumulated. It was a time when life demanded closer interaction between science and practice.

The Academy of Sciences became an important part of Peter I's reforms aimed at renewing the country. The development of science and education was necessary for the growth of industry, transport, trade, raising the cultural level of the population, and strengthening Russia's position on the international stage. These tasks, primarily economic, could not be solved without studying and mastering the country's natural resources. Peter I also sought to involve Russia in the cultural development of European countries.

According to Peter I's vision, the Russian Academy of Sciences was not to copy Western European analogues. In the conditions of Russia, it was to become not only a scientific but also an educational institution. A university and gymnasium were established under the Academy, where academics taught. The Academy performed all types of scientific and technical services aimed at strengthening and centralizing the state.

Initially, the Saint Petersburg Academy of Sciences was located in the house of P. P. Shafirov on City Island, as well as in neighboring buildings: the former house of Count Zotov, which housed the academic office, and the house of Prince Gagarin. From 1728, it was located on Vasilievsky Island, in the building of the Kunstkamera and the palace of Tsarina Praskovya Fyodorovna. The Kunstkamera building has been a symbol of the Academy of Sciences since the early 18th century.

In 1783 and 1789, architect J. Quarenghi built a new building for the Academy on Universitetskaya Embankment, 5. This building is a monument of strict classicism and part of the ensemble of the Spit of Vasilievsky Island and Universitetskaya Embankment. It housed academic storage, a bookstore, and staff apartments.

The main facade of the three-story building faces the Great Neva, and the lower basement floor is faced with granite. Granite stairs lead to the main entrance on the second floor. The interior finishes of the conference hall and the grand staircase have been preserved, on the landing of which a mosaic panel by M. V. Lomonosov "Battle of Poltava" was installed in 1925.

The Academy of Sciences building complex included the Museum Wing, where in 1831 the collections of the Botanical, Zoological, and Asian museums were housed. Currently, this building houses the Saint Petersburg Scientific Center of the Russian Academy of Sciences, the Research Institute of the History of Natural Science and Technology, a branch of the publishing house "Nauka", and a clinic.