The foundation of St. Peter's College was laid in the 1904 “Act of Incorporation of the Order of St. Benedict,” which provided for the establishment of a school able to grant matriculation, certificates, and diplomas. The Benedictine founders envisioned a high school/ college to prepare the young men of the region for active lay or religious life. Abbot Michael Ott launched a fundraising drive in 1919, and in 1921 Michael Hall was opened. In 1926, an agreement was reached with the University of Saskatchewan for affiliation to allow Arts and Sciences credit courses to be offered at St. Peter's. The student population was drawn from across western Canada, but the college mainly served the young men of St. Peter's Colony.
In 1959 the university-level classes were opened to women, and attendance increased. Although the high school portion was closed in 1972, demand for university classes continued to grow; with the need for a broader range of course offerings, lay faculty were added. In 1997, the College established the Centre for Rural Studies and Enrichment to serve the needs of rural communities. Now a fully affiliated College of the University of Saskatchewan, St Peter's offers courses in Fine Arts, Sciences, Humanities, Social Sciences, Agriculture and Business, and hosts retreats for artists and writers.