The Institute for Studies in Theoretical Physics and Mathematics (IPM) was founded in 1989 under the auspices of the Ministry of Science, Research and Technology (formerly the Ministry of Science and Higher Education).
Initially a Director and, upon his recommendation, a six-member Scientific Council (three mathematicians and three physicists) were appointed by the Minister in 1989. The appointments were based on the IPM Constitution approved by the Ministry. Initially, IPM consisted of two departments, namely the Department of Mathematics, and the Department of Theoretical Physics. These departments were headed by professors from the respective fields from the established universities based in Tehran. The Council, however, was composed of members from universities and higher education institutions nation-wide.