Loreto College, Calcutta was founded in 1912 by the Sisters of the Institute of the Blessed Virgin Mary (IBVM), commonly known as Loreto, a catholic religious order established by Mary Ward in 1609. The College has a rich history marked by its pioneering role in women's education in India and began as an extension of the School Department of Loreto House. A few rooms were allotted to school leavers and they were prepared privately for the university examinations at which they appeared as non-collegiate students. In 1912-1913, it became one of the first women's colleges to gain affiliation to the University of Calcutta, allowing its senior students to sit for university exams. Affiliation was first granted for Intermediate Arts and later for BA (Bachelor of Arts), ISC (Intermediate Science). Additionally, Loreto College was also affiliated for a Licentiate in Teaching (LT) in 1913, further expanding its academic offerings. The college was unique in being allowed to combine its Intermediate Arts and LT classes, a distinction supported by university professors. This was a significant achievement, as it provided young women access to higher education in subjects like biology, sciences, and Indian languages, which were typically reserved for their male counterparts.

The establishment of a teaching college was a long-held ambition of Loreto’s Mother Superior, Gonzaga Joynt, dating back to the 1890s. Despite financial and governmental challenges, Mother Gonzaga Joynt persisted. Loreto's efforts were further strengthened by the influence of Mother Gonzaga Barry from Ballarat, Australia, who had established Australia's first teacher training college for women in 1884. Barry’s connection with Joynt led to the introduction of innovative teaching philosophies in India, enhancing Loreto’s educational mission.

Loreto College’s pursuit of academic excellence and professional training for women played a crucial role in challenging the dominance of government-run education and Anglican influence in the region, marking it as a significant institution in the history of women's education in India.

The College holds the honour of being the first in West Bengal to be assessed by the National Assessment and Accreditation Council (NAAC), earning a five-star rating in 2000. It was re-accredited with an A grade in 2006 and again in 2012. On account of being a high performing institution the College received an extension of two years in 2017 and was re-accredited with an A grade in 2021. The B.Ed. Department, established in 1913, received a B++ grade from NAAC in 2003 and was upgraded to an A grade in 2009. The UGC recognized the College as a "College with Potential for Excellence" in 2006, 2011 and 2014. The College also been ranked by NIRF (National Institutional Ranking Framework), Ministry of Human Resource Development, Government of India.

The College offers Four Year degrees in B.A. and B.Sc. and a Three Year Multi-Disciplinary Course offering a wide range of Major, Minor and Interdisciplinary subjects. Post graduate courses offered by the College include MA English and sanction has been granted for an M.Sc. Psychology. In continuance of its efforts towards all round development of its students, Value Education forms an integral part of the curriculum alongside various Certificate Courses.

Loreto College aims to develop high academic standards and inculcate values of leadership, commitment and selfless service. A Women’s Cell was established in 1996. Staff members (retired and current) as well as students and friends of the College offer voluntary service to this cell in its endeavour to provide adult literacy programmes for disadvantaged young women.