In 1891, the Worshipful Company of Goldsmiths set up the Goldsmiths' Technical and Recreative Institute (more commonly referred to simply as the "Goldsmiths' Institute"), dedicated to "the promotion of technical skill, knowledge, health and general well-being among men and women of the industrial, working and artisan classes". The Institute was based in New Cross at the former Royal Naval School building. (This building, which was designed by the architect John Shaw Jr, is now known as the Richard Hoggart Building and remains the main building of the campus today.)

In 1904, the Institute was acquired by the University of London and was re-established as Goldsmiths' College. (The apostrophe was removed in a rebranding in 1993.) Shortly after the acquisition, in 1907, the college added a new arts building, designed by Sir Reginald Blomfield, to the back of the main building. During the Second World War it was decided to evacuate the students and faculty of the college to University College, Nottingham, a decision that proved wise when the main building was struck by an incendiary bomb and gutted in 1940 (the building was finally repaired in 1947). During the 1960s the college experienced a rapid expansion in student numbers, and the main building was expanded and the Lockwood Building, Whitehead Building, Education Building, Warmington Tower and St James's Hall were all built during this period in order to accommodate the new students. The college has also come to acquire some historic buildings in the surrounding area including the former Deptford Town Hall and Laurie Grove Baths buildings. In 1988 Goldsmiths became a full college of the University of London and in 1990 received its Royal Charter. Among its wardens have been Richard Hoggart and Ben Pimlott.