The Paleontology Foundation was created at the Department of Geology and Paleontology of Tbilisi State University owing to great efforts of prominent scientist and academician, Alexander Janelidze. The establishment of the department itself in 1924 is also connected with his name. The museum was gradually enriched with the collections of fossil organisms from different parts of Georgia presented by the employees of the Institute of Geology and the Department of Geology and Paleontology. A small part of the museum collection was brought from North Caucasus (mainly Dagestan), Trans-Caucasus, France and Spain.

Various scientists have studied the collections of fossil fauna and flora kept at the Paleontology Foundation and published the results of their studies in a form of monographs. The foundation keeps the works of academicians - A. Janelidze, I. Kakhadze, A. Tsagareli, professors – I. Rukhadze, M. Uznadze as well as the collections of many other scientists.

The Paleontology Foundation carries out both educational and scientific activities. Along with BA, MA and PHD students undertaking their studies in geology, other interested researchers can also study the materials kept at the foundation.