After the Partition of India in 1947, a section of the mass exodus from East Pakistan had crossed the Radcliffe line to arrive and settle at Bagula, India. Among them, were some teachers and students of the Ramadiya Srikrishna College from the Faridpur district of East Pakistan. Instead of going to the government-designated refugee camps, they decided to build their houses at Bagula with limited resources. They cultivated the land to sustain themselves. They had an insatiable hunger for educational and cultural development. The migrants soon realized that provisions of food and shelter did not complete the process of rehabilitation. Education was the need of the hour to alleviate the conditions of the backward classes.

This led to the establishment of a number of primary, secondary, and higher secondary schools. With the unwavering determination and cooperation of the people, an ordinary tin house witnessed the foundation of the Srikrishna College, Bagula. A college inspection report of the University of Calcutta testifies the story of the establishment of the institution of higher education at Bagula. The said report states that although the college was established in the year 1950, it did not receive its formal approval/accreditation/affiliation from the University of Calcutta. It was in the year 1952 that ten students from the college were able to appear for the IA (Intermediate Arts) examination under a special provision issued by the University of Calcutta.

In the academic year 1952-53, Srikrishna College received the permanent seal of approval to teach the IA standard curriculum. Subsequently, the college was allowed to start the B. A. degree classes from the year 1957.

The University of Calcutta granted Srikrishna College permission to start their B. Com. degree classes from the academic year 1962-63. In the academic year 1995-96, the college has got permission to start science stream (UG B.Sc.) with Arts and Commerce Stream. The college was affiliated with the University of Calcutta till the year 1998 and from 1999, Srikrishna College, Bagula has been under the affiliation of the University of Kalyani, West Bengal.

The college has played a pioneering role in teaching Science and Computer Science at the undergraduate level to the students of the region/suburbs/rural areas.

From the academic year 2008-09, M.A. degree courses were started through Open and Distance Education mode under the University of Kalyani. In 2019, postgraduate courses commenced through the Open and Distance Education mode under the Netaji Subhash Open University.