The history of the Sheptytsky Institute begins with the formation of the Ukrainian Catholic Brotherhood in Saskatchewan in 1932. In 1934, the Brotherhood established a bursa, a residence and cultural/spiritual centre for young Ukrainian Catholic men from rural Saskatchewan who came to Saskatoon to further their education. The Markian Shashkevych Bursa was established in 1935. Due to increased need, in 1944 the Brotherhood replaced the Bursa with a larger residence. Construction of the Metropolitan Sheptytsky Institute began in 1950 on six lots on College Drive purchased for $1,650. On October 5, 1952, the cornerstone was laid and blessed by the newly appointed Exarch of Saskatoon, Andrew Roborecki. On August 16, 1953, the Sheptytsky Institute opened, administered by the Episcopal Corporation of Saskatchewan. Fr. Peter Kryworuchka was the first rector. The Markian Shashkevych Bursa was closed on October 6, 1953.
The Sheptytsky Institute continued as a “male only” residence, providing spiritual, cultural and social activities. Ukrainian classes for students on campus and in the city of Saskatoon were taught for a number of years. In addition to the classes, many teachers attending Summer School availed themselves of the lectures on Ukrainian history, culture and traditions offered by Fr. Kryworuchka and others. From August 28, 1955, until 1966, Musée Ukraina Museum was officially housed in the Institute. In March 1975, the Metropolitan Sheptytsky Society was formed and incorporated. On December 1, 1975, the Society assumed control of the management of the Institute on behalf of the Episcopal Corporation.
In 1979–80, the Institute and residence officially became co-ed. The kitchen was modernized, and the Ukrainian Catholic Religious Education Center added. In 1984, a library was opened and operated out of the Institute for a short time. In 1998, the Society entered into a management agreement with St. Thomas More College. At this time, Sister Gloria, SSMI, was appointed Ukrainian Catholic Campus Pastoral Minister. Laurie Friesen assumed this position in 2002, and in 2004 she was appointed to the dual role of Campus Pastoral Minister and Eparchial Youth Coordinator. In 2000, major renovations to the Institute were completed. In 2003, the management agreement ended, with management responsibilities reverting to the Society.