The institution was established as the Escuela Politécnica Superior by Father Jose Mª Arizmendiarrieta, in 1943. The current university was created by the association of three educational cooperatives: Mondragon Goi Eskola Politeknikoa “Jose Mª Arizmendiarrieta” S. Coop., ETEO S. Coop., and Irakasle Eskola S. Coop. Currently the university is constituted by four faculties:
Faculty of Engineering
Faculty of Business Studies
Faculty of Humanities and Education
Faculty of Gastronomic Sciences
José Mª Arizmendiarrieta memorial at the Faculty of Engineering.