Until 1917, the building, designed by G. D. Quarenghi, housed the Smolny Institute for Noble Maidens, Russia's first women's educational institution, which laid the foundation for women's education. The interior is dominated by the White (Assembly) Hall, where balls and other festive events were held for the students. Other classical-era interiors have also been preserved.

In October 1917, the Institute was relocated to Novocherkassk, and the building was used as a headquarters for the preparations for the October Revolution. Before the capital was moved to Moscow, Smolny served as the headquarters of the Bolshevik government and Vladimir Lenin himself. In November 1917, the All-Russia Congress of Soviets held its meeting here, where the Decrees on peace and land were adopted.

Since 1918, the building has housed various party bodies, as well as city government agencies. Since 1996, Smolny has served as the official residence of the governor and the city administration building.