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La Salle College was founded in March 1863 as an all-male college by Brother Teliow and Archbishop James Wood of the Archdiocese of Philadelphia. It was first located at St. Michael’s Parish on N. 2nd Street in the Olde Kensington section of Philadelphia. La Salle soon moved to the building vacated by St. Joseph’s College at 1234 Filbert Street in Center City, Philadelphia. In 1886, due to the development of the Center City district, La Salle moved to a third location, the former mansion of Michael Bouvier, the great-great-grandfather of Jacqueline Kennedy Onassis, at 1240 North Broad Street. Due to space constraints, in 1930 La Salle moved to its current campus at the intersection of 20th Street and Olney Avenue in the Logan neighborhood of the city. The new location had a suburban feel with ample land, but was linked to the city by trolleys and the newly constructed Broad Street Subway.

The 1930s proved to be a tumultuous decade for La Salle, which was nearly bankrupt after being unable to sell the 1240 North Broad Street property. The main academic building on campus, College Hall was unable to be finished due to a lack of funds, and the college nearly closed in the late 1930s. The college’s closing was prevented by a 75th Anniversary Fund Drive in 1938, spearheaded by Philadelphia businessman John McCarthy. Funds raised from this drive also enabled La Salle to purchase a tract of land to the east of 19th Street, where Philadelphia had intended to build a city college.

La Salle nearly closed again due to a lack of students during World War II, and the football team was disbanded due to a lack of players, but the college experienced a period of growth in the late 1940s. Several new buildings were constructed in the 1940s and 1950s, including a new library, student union, and a science building. It was also during this time that the first student residence halls were constructed at La Salle, mostly on land purchased from the former Belfield Country Club. Additional student housing was provided by purchasing or renting local homes, such as the house known as “The Mansion”, on David and Logan Blain’s Belfield Estate. During the 1960s, the high school section moved out due to the lack of space after many years of sharing the same campus with the College.

Peale House on Belfield, the former Office of the President of La Salle
La Salle admitted women to its regular classes in 1970, becoming a fully co-educational institution. A year later, La Salle opened Olney Hall,[5] its main academic building. It also continued to expand its property throughout the 1970s and 1980s, buying land along Chew Avenue in the Germantown section of the city, along with the Belfield Estate in 1984, and to the south of main-campus, the orphanage run by the Sisters of St. Basil the Great. It was also during this era, in 1984, that La Salle was granted University status. In 2007, La Salle acquired the former Germantown Hospital, now West Campus, and constructed The Shoppes at La Salle shopping center across the street in 2008. The construction of the Shoppes at La Salle and addition of The Fresh Grocer ended a decades-long food desert in Germantown.

In October 2015, La Salle inaugurated its first lay person and first woman president, Colleen Hanycz, former president of Brescia University College. In 2015, Hanycz led consolidation and prioritization efforts, ultimately firing a couple dozen prominent staff members and administrators. The university even cut six undergraduate majors, which were mostly in the foreign language department. However, just a year after her arrival, the school stated that it would decrease tuition by 29 percent. The reasoning for the significant tuition cut was to make La Salle more attractive and accessible for students from more diverse socioeconomic backgrounds.