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The museum opened in May 1936 with the aim of providing citizens with opportunities to come into contact with excellent art and culture, enriching their lives, supporting the activities of artists, and contributing to the promotion of culture in Osaka in general. The museum is located in Tennoji Park, the site of the former main residence of the Sumitomo family, which was donated to Osaka City, along with the garden (Keizawaen).

The museum consists of the original main building and the basement exhibition room, which was newly constructed in 1992 in the basement of the museum's main building. The museum consists of three floors above ground and two floors below ground, with special exhibitions and collection exhibitions held in the main building exhibition room.

The Collection Exhibition displays over 8,500 Japanese and Chinese paintings, sculptures, crafts, and other items from the museum collection that have been purchased or donated, as well as works entrusted by temples and shrines. Many of these works have been designated national treasures or important cultural properties. In the basement exhibition room, exhibitions sponsored by various art organizations are held throughout the year. In the basement of the main building is the Art Research Institute, which is attached to the museum and conducts practical studies in drawing, painting, and sculpture.

Full Power! The Tale of the Treasure—Tracing Beauty Through Osaka City Museum of Fine Arts