Maharajashri Bhagavatsinhji (M.B.) Arts and Commerce College, Gondal was established on 2nd May 1964 under Maharajashri Bhagavatsinhji Public Utility Trust Fund, Gondal which was established in 1958 & associated with the name of the beloved Maharajashri of Gondal, thought of starting a college in Gondal with a view to providing facility for higher education in Gondal itself.

It is one of the premier institutions to impart & provide in the field of higher education for the deserving candidates and prove to be a milestone in the part of progress.

The college is affiliated to Gujarat University, Ahmedabad and recognized by University Grants Commission (UGC) under section 2(f) & 12(B) in August 1980 under Act, 1956. It is accredited by National Assessment and Accreditation Council (NAAC) with "C++" Grade in March 2007.

An informal coaching center called Janta College or Svadhyay Mandir, for students aspiring to appear for the external examination at the Gujarat University, Ahmedabad was started in the Town Hall of Gondal in 1958.

Some 59 (fifty-nine) students appeared as external students at the Gujarat University, Ahmedabad at the end of the academic year 1959-60. This was the seed that sprouted into Maharajashri Bhagavatsinhji Arts & Commerce College.

At the time there was no college in Gondal. The students had to go either to Rajkot or somewhere else. There was a need for a college in Gondal. To meet this requirement Maharajashri Bhagavatsinhji Public Utility Trust Fund gave Rs. 2,50,000 to Gondal Nagarpalika to start and run a college in Gondal with the name of Maharajashri Bhagavatsinhji associated with it.

The aim of starting a college was to provide the facility for a college in Gondal so that students of Gondal and surrounding villages can avail higher education at their doorstep.

The college offers three-degree courses in Arts & Commerce stream & also offers PG courses in Arts & Commerce under I.