The Institute of Mathematical Sciences and Physics (IMSP), a degree-granting unit under the College of Arts and Sciences was established on March 23, 1983 through Executive Order 889 upon the recommendation of the UP Board of Regents.

   Three units: The Department of Mathematics and Physics, the Department of Statistics and Statistical Laboratory (both under the College of Arts and Sciences) and the Computer Service Unit (under the Office of the Vice-Chancellor for Academic Affairs) were recognized to form the nucleus of the institute. In 1995, the Division of Computer Science and Computer Science Laboratory was elevated as an institute, the Institute of Computer Science and in 1998, the Division of Statistics and Statistical Laboratory became the Institute of Statistics.

   In 1998, the Commission on Higher Education (CHED) designated the Institute as a Center of Excellence in Mathematics Education and a Center of Development for Excellence in Physics Education. In 2006, the Institute was again designated by CHED as a Center of Excellence in Mathematics.

   At present, IMSP has two divisions: the Mathematics Division and the Physics Division.