The University of Thessaloniki was founded pursuant to Law no. 3341/1925, whereas its structure was determined in 1939 pursuant to Law no. 1895/1939. The University of Thessaloniki was renamed Aristotle University of Thessaloniki pursuant to Law no. 3108/1954 (article 7).

The Faculty of Law and Economics was one of the first faculties of the Aristotle University of Thessaloniki to open its doors pursuant to Law no. 3341/1925 (article 3). The Faculty of Law and Economics of the Aristotle University (unlike the one of the University of Athens) was divided into two independent schools: a) the School of Law, and b) the School of Economics and Political Sciences.

In particular, the School of Economics and Political Sciences was founded in 1927 (pursuant to the presidential decree of 19th November 1927) and was the first to open its doors in 1928.

The School of Law was founded in autumn 1930 (pursuant to the presidential decree of 30th July 1930) after overcoming difficulties and concerns which sprang from the view held by many government officials and others that founding this school (in addition to the one operating at the University of Athens) would only exacerbate the already existing problem of the surplus of lawyers in the country.

The curriculum of the two Schools of the Faculty of Law and Economics was developed in accordance with the Ministerial Decision 152907/30-11-1971. The School of Law focused on promoting research and teaching in the fields of law and political sciences, offering different programmes of studies which led to a degree with a specialization either in legal sciences or public law. The programme of study of the School of Economics led to a degree in economics.

Pursuant to Law no. 1268/1982 (known as the legal framework with regards to Greek universities), the Faculty was divided into two independent schools: a) the School of Law, and b) the School of Economics, which trained students in a wide variety of disciplines related to law and economics.

In 1999, a new school was founded, the School of Political Sciences (pursuant to the presidential decree 203/3-9-1999), which first opened its doors in the academic year 2000-2001. Thus, the Senate of the Aristotle University, at its meeting no. 2712/12-1-2000, unanimously decided to rename the Faculty of Law and Economics to Faculty of Law, Economics and Political Sciences (pursuant to the presidential decree 87/2001).

In should be noted that the three schools of the Faculty of Law, Economics and Political Sciences also offer programmes of studies which lead to MA and PhD degrees. Postgraduate courses are offered free of charge. While postgraduate studies in law and economics were introduced in Greece in 1982 pursuant to Law no. 1268/1982, the Faculty of Law and Economics of the Aristotle University had already been offering postgraduate courses since 1963 (the department of postgraduate studies was founded in 1962 pursuant to the royal decree 520/21-8-1962) in four areas: a) private law, b) penal sciences, c) public law, and d) economics. Also, the Faculty of Law, Economics and Political Sciences has been one of the first faculties in Greece to develop and promote European exchange programmes involving both student and staff mobility.