The Princess Margaret Hospital was founded as the Ontario Cancer Institute in 1952 by the Ontario government. Originally located at 500 Sherbourne Street in Toronto, the hospital was officially opened in 1958 by Her Royal Highness the Princess Margaret and was re-named Princess Margaret Hospital to mark the occasion.
In 1995, the hospital moved to its current location on University Avenue, the heart of Canada's innovation hub and the greatest concentration of teaching and research hospitals in the country. A year later, in 1996, Her Royal Highness the Princess Margaret visited once again to officially re-open the now 130 bed cancer hospital.
In 1998, the Princess Margaret Hospital became part of the University Health Network, merging the oncology services of Toronto General and Toronto Western hospitals with those of Princess Margaret, making Princess Margaret Hospital the largest comprehensive cancer program in the country.
In 2012, Princess Margaret Hospital was renamed the Princess Margaret Cancer Centre.