Originally called the Kiev City Museum of Antiques and Art, the founders set out to put together a collection of pieces representative of Ukrainian fine art. Ranging from medieval icons to portraits of military and church leaders during Cossack times, some depicting caricatures of Mamay. Present time famous artist works included those of Taras Shevchenko, Ilya Yefimovich Repin, Vladimir Borovikovsky, Vasily Andreevich Tropinin, Mykola Pimonenko, Mikhail Vrubel, Nikolai Ge, and Oleksandr Murashko among many others.
After World War I, the museum also served as the Museum of History. One of the memorable expositions displayed an old trophy tank, which was lent by the Triple Entente to the White Army.
After World War II the museum changed its name and exposition, and returned to what it's known now, presenting art. The collection began to grow, with Ukrainian art coming from all areas of Ukraine like Galicia. The directors obtained Ukrainian art from Moscow and St. Petersburg, as well as Ukrainian artists living abroad in Europe and America. However, during Stalin's repression, this activity was seized, and a big part of the collection was dispersed and hidden.
During Ukrainian independence, the museum reached a status of international recognition. For the first time, its collections traveled outside of the country and were exhibited in Canada, France, Denmark, and Croatia.
The current exhibition includes over 20 thousand pieces. Among many are works by a now world renown constructivist Vasiliy Yermilov, and Cubo-Futurist Alexander Bogomazov. The Ukrainian side is reprsented by works of famous Ukrainian and Russian artists such as David Burliuk, Aleksandra Ekster, Vadim Meller, Kliment Red'ko Solomon Nikritin, Victor Palmov, Maria Sinyakova, Mikhail Boichuk, Mykola Pymonenko and many others.