Singapore Philatelic Museum was officially opened on 19 August 1995 as a project of the Telecommunication Authority of Singapore (TAS). On 1 April 2000, the museum was transferred to the National Heritage Board (NHB) as a fully-owned subsidiary. Singapore Philatelic Museum is the first philatelic museum in Southeast Asia.

Singapore Philatelic Museum is housed in a century-old, double-storey, colonial building. The building was the formerly part of the Anglo Chinese School. It was designed by Tomlinson and Lermit Architects, and commissioned by the Trustees of the Anglo Chinese School in 1906 as an additional school building to the Oldham Hall that was built in 1897. The original plans of this building were approved on 22nd June 1906.