The building where the Taipei 2-28 Museum stands today is the former site of the Taipei Broadcasting Bureau, which was formed by the Information Office under the Government-General Propaganda Bureau of Taiwan's in 1930.The Bureau's mission was to develop and provide radio broadcasts in Taiwan. In 1931, the Taiwan Broadcast Association was formed and assumed management of all radio broadcasts. The Association was renamed the Taiwan Broadcasting Company by the Nationalist government in 1945. 

At the time of the 2-28 Incident in 1947, radio played an important role in announcing official decrees from the government and the military, as well as informing the public about the events of 2-28. In 1949, when the Nationalist government retreated to Taiwan, the station's name was once again changed to the Broadcasting Corporation of China (BCC). In 1972, when the BCC moved to a new location, the building was given to the Taipei City Government and became the site of the Taipei City Government Parks and Street Lights Office. In 1996, the Taipei City Government designated the building as a site of historical significance in light of the 2-28 Incident and chose the site as the location of the present-day 2-28 Museum.

The Museum's Mission

On February 28, 1997, the Taipei 2-28 Memorial Museum was inaugurated to commemorate the fiftieth year since the 2-28 Incident. The museum's mission is to provide a public, historical account of the 2-28 Incident and to console the family members of victims of the incident. The museum aims to help all people in Taiwan better understand the 2-28 Incident, and transform the suffering associated with the incident into a source of strength. With this goal in mind, the Museum hopes to renew the soul of Taiwan and create a harmonious society through love and forgiveness. The museum also hopes to promote ethnic harmony and sharing in society, and the sound development of culture.

The museum was founded with the following goals:
Commemoration:

To draw from the deep seated memories of this historical tragedy and collectively rebuild a history of Taiwan . 
Education:  To deepen the Taiwan public and the international community's knowledge of the 2-28 incident. 
Participation:  To allow the public to “participate” in history and to impart a historical consciousness for Taiwan , and to help us remember our history while looking towards a brighter future. 
After the museum was completed, the Taiwan Peace Foundation was commissioned to manage the museum's operations, which were eventually taken over by the Taiwan Area Development Research Institute from June 1, 2000 to December 31, 2002.

The Taipei City Government's Department of Cultural Affairs assumed management duties for the museum on January 1, 2003. Director of Cultural Affairs Liao Hsien-hao has set forth three new development goals:

1. To collect, preserve, display, and research information on the 2-28 incident 
2.To connect traditional Taiwanese culture with current thought and trends worldwide.
3.To advocate universal human rights, and through a collective effort, make the 2-28 museum a place that all Taiwan citizens can be proud of.