It was established in 1993 and chartered by the Government of Punjab in January 1997, through The Lahore School of Economics Act 1997. It was 2 campuses. The Main campus, spread over 35 acres (140,000 m2), is located on the intersection of DHA Phase VI, Main Boulevard and Burki Road. The City campus is located in Gulberg near the central Liberty Market area.

The Lahore School is 2nd ranked Pakistani business school according to Pakistan's Higher Education Commission (HEC} Ranking after Lums.