Founded in 1917 by a great Philanthropist Mrs Jeremias Dias of Panadura as a seat of learning for Buddhist Girls in Ceylon at a time when there was a huge hiatus for such institutions, it was named "Buddhist Girls' College" and begun in a house called "The Firs' in Turret Road, Colombo. Soon relocated at its present premises at Vajira Road it was named Visakha Vidyalaya after that noble lady Visakha of Lord Buddha's time by Lady Stanley the wife of the then Govenor of Ceylon.
Visakha has long been recognized as being the premier girls' school in the Island. This meteoric rise within a relatively short period of time was achieved through the conscientious and dedicated work of a long line of Principals, Managers, Staff and Old Girls.