TFounded as Kurunegala Buddhist Institution by the Buddhist Theosophical Society, led by Colonel Henry Steel Olcott and Maha-Vidane Semenaries A. Bamunu-Arachchige.
School relocated to Ethkanda Viharaya along the Kandy-Kurunegala road.
A modern campus with state-of-the-art facilities was inaugurated.
Management transferred to the Young Men's Buddhist Association (YMBA), and Dr. H.K.T. Zilva became the new manager.
The school renamed 'Maliyadeva College' in honor of Arahant Maliyadeva, the last Arahath thero.
P. De S. Kularatne turned the school into a mixed institution.
Due to WWII, the school buildings were taken over by the Army, and the school temporarily relocated back to Ethkanda Viharaya.
The primary section moved to a new location along Colombo-Kurunegala Road, forming Maliyadeva Girls' College.
Maliyadeva College became a Government-Assisted School. Boys moved back, and Maliyadeva Girls' College operated as a separate school.
The school upgraded to Grade 1 status. University Entrance (Arts) and SSC (Science) classes began.