The ICFAI University, Tripura, one of the most popular and successful universities in the North-East India was established in 2004 through an Act of State Legislature (Tripura Act 8 of 2004). This NAAC accredited premier institution has been contributing to society through the pursuit of education, learning and research at the highest international levels of excellence since it has got approved by the University Grants Commission, under Section 2(f) of the UGC Act, 1956.

The Bar Council of India has accorded its approval for imparting three year and five year Law Courses at ICFAI University, Tripura and award degrees in law. The University has received the approval of NCTE to offer the Bachelors Program in Education through its constituent college the Faculty of Education, and has also been included in the list of approved institutions maintained by NCTE. The University has received the approval of The Rehabilitation Council of India (RCI) under the Ministry of Social Justice & Empowerment, Govt. of India to offer the Bachelors Program in Education through its constituent college the Faculty of Special Education. The ICFAI University, Tripura is included in the list of approved institutions maintained by RCI. The University believes in creating and disseminating knowledge and skills in core and frontier areas through innovative educational programs, research, consulting and publishing, and developing a new cadre of citizens with a high level of competence and deep sense of ethics and commitment to the code of professional conduct.

The Visitor of the University is H.E. The Governor of Tripura. The University is administered as per the Act, Statutes and Rules. The Board of Governors is headed by the Chancellor and has Vice-Chancellor and others as members. The Board of Management is headed by the Vice-Chancellor. The Academic Council is responsible for all academic matters. The University offers Bachelor, Master, and Doctoral programs in management, finance, science and technology, information technology, education, law and other important areas.