The foundation stone of the present museum building was laid on 14th December 1947 by Pandit Jawaharlal Nehru and the museum was opened to the public in 1954 in the Chandra Sekhar Azad Park or the company bagh area. But the real turning point of the fate of the museum came in the year 1986 after realizing its significance of the diversity of its rich collections of archaeological artifacts, art treasures the museum was taken over by the Ministry of Culture, Government of India after constituting an autonomous body called Allahabad Museum Society, and declared it a museum of national importance under the Ministry of Culture Government of India. Presently the museum is under the financial control of the Ministry of Culture, Government of India and the ex-officio Chairman of the museum is the Governor of Uttar Pradesh.