The college owes its origin to the devoted and tenacious efforts of the great soul Late Prananath Patnaik. The idea of having a college at Khordha, cherished in the minds of the local intelligentsia since 1955, could become a reality only on January 28, 1959; on account of the relentless struggle of Late Prananath Patnaik and his zealous associates.

The foundation stone of the college was laid by the then Union Minister of Education, Prof. Humayun Kabir. The institution was named as “Khordha College” and Late Prananath Patnaik became its Founder Secretary. The college began functioning primarily as an Arts college with provision for teaching Pre-University Arts course, for which affiliation was granted by the Utkal University. In the first year (1959-60), there were only 64 students. A master plan was prepared for the present main teaching block in 1962. The institution became a Degree College in Arts in the year 1963 and the provision was made for teaching Pre-University Science Course in 1964, Pre-Professional Course in 1967, Honours Courses in History & Oriya in 1968, B.Sc. with teaching facilities in Physics, Chemistry and Mathematics and Honours Course in Economics & Pol.Sc. in 1970; teaching facilities in Botany and Zoology and Pre-University Commerce Course and Honours Course in English were opened subsequently.

In the year 1970, the Founder Secretary passed away. After his sad demise the College was named as PRANANATH COLLEGE in November 1970, in the fond memory of our beloved founder.

In 1972 Degree Course in Commerce, in 1973 Honours Courses in Philosophy, Physics and Chemistry, in 1974 Honours Courses in Botany & Zoology, in 1979 Commerce Honours (Accountancy Group), in 1980 Honours Course in Psychology and in 1981 Honours Course in Education and Mathematics were started.

Higher Secondary (Plus Two) Courses were opened simultaneously in Arts, Science and Commerce from the academic session 1983-84 and the institution got affiliated to the Council of Higher Secondary Education, Orissa in the same year.

Post Graduate Courses in M.Sc., Computer Science & M.A. in Personnel Management and Industrial relation were opened in the session 2009-10 and Government of Odisha accorded due recognition to the course in December 2010 and due affiliationin 2011 w.e.f-2009.

The outstanding growth of the College is attributed to the donations received from generous public, eminent personalities and the students from time to time. The College is flourishing because of Grants received from the UGC, New Delhi under the Basic Assistance and the Development Assistance in various plan periods and the necessary aid and assistance from the State Government.

Stepping into the forty-eighth year, the College has been granted the autonomous status by U.G.C. w.e.f June 2006. In the same year The NAAC has also acredited the college at ‘A’ level. The college has also been adjudged as a "College with Potential for Excellence" by U.G.C, w.e.f. 24th August 2011. The college has completed 50 years of its existence has celebrated its ‘Golden Jubilee’ on 27th Nov 2010. We are hopeful of a bright future in its way to the pinnacle of glory as envisioned by its legendary founder.