UT was founded in 1957 as the State University of Tirana (Universiteti Shtetëror i Tiranës) through the merging of five existing institutes of higher education, the most important of which was the Institute of Sciences, founded in 1947. Between April 13, 1985 and 1992 (during the communist regime), UT was called the Enver Hoxha University of Tirana (Universiteti i Tiranës "Enver Hoxha").
More than 14,000 students attend UT. UT employs more than 900 faculty members.
The current campus is urban and decentralized. A new large and centralized campus has been planned in the southeast periphery of Tirana. Students dorms are grouped in a separate location called Student City (Qyteti Studenti) in southeast Tirana.
UT is the biggest college in Albania and the Balkans, and among the biggest in Europe with 35 000 students. In 2013 the college accepted 95 new Ph.D. students. These are students in possession of bachelor's degrees.
Finance-Accounting: The highest ranking and the most competitive department that has produced very high quality students. Many students have been very successful around the world pursuing Masters and Ph.D. degrees.