The Institute was founded in January, 1 in 1975 by the decision No 65 of November, 19, 1974 of State Committee of Council of Ministers of the USSR on Science and Engineering as Computational Center of Siberian Branch of Academy of Sciences of the USSR (KCC SB ĀS USSR).
Since 1991 V. V. Shaidurov, Corresponding Member of Russian Academy of Sciences, has been running the Institute.
By the decision No 250 of August, 1, 1997 Presidium of Siberian Branch of Russian Academy of Sciences renamed the Institute into Institute of Computational Modeling of Siberian Branch of Russian Academy of Sciences (ICM SB RAS) and assigned the scientific direction "Methods of Mathematical Modeling and Smart Information Systems".