As the oldest and largest geophysical scientific institution in Russia the Institute follows the traditions of Russian science. The subjects of Earth structure, its development and surface and subsurface physical processes were of constant interest to Russian scientists. In the XX th century they made the first attempt to describe and catalogue strong earthquakes. At the early stages of geophysics in Russia academician B.B. Golitsyn played an important part in its development. He built high-precision seismographs, created the theory of seismic waves and methods of instrumental observations. By 1916 about twenty seismic stations were functioning on the base of the equipment which he constructed. Under the initiative of P.M. Nikiforov, one of Golitsyn’s students a program of seismological research was developed in the 1920s and in 1928 the Seismology Institute of the Academy of Sciences (SIAS) was founded and P.M. Nikiforov was elected its Director. At first it was located in Leningrad and was transferred to Moscow in the 1930s. Gravimetry and geotectonics were studied there along with seismology. The Institute also pioneered fundamental studies of seismicity in various regions of the Soviet Union which was crucial for industrial and civil construction works. Processing of seismic observation data gave the first information on the structure of the Earth crust in the Caucuses, the Crimea and Central Asia. A new technique of observing seismic waves induced by industry explosions was developed and various methods of seismic and gravimetric prospecting of mineral resources were explored in SIAS.

Apart from SIAS, on the initiative of the outstanding scientist and polar explorer O.Y. Schmidt the Institute of Theoretical Physics was founded in Moscow in 1937. One of its major goals was integrated study of global processes and multi-dimensional scientific approach to areas of investigation. O.Y. Schmidt brought in prominent mathematicians, physicists, geophysicists and geologists. He created the cosmogonic theory of formation of the Earth and other planets from a cold gas-dust cloud. P.P. Lazarev studied the origins and evolution of the magnetic field of the Earth; he also organized studies on magnetic characteristics of rocks. G.A. Gamburtsev and his team received substantial data in seismic prospecting and developed seismic refraction technique for studying the upper layers of the Earth’s crust.

In 1946 the Seismology Institute and the Institute of Theoretical Geophysics in Moscow were merged to create the Institute of Geophysics led by academician O. Y. Schmidt. He soon resigned from the position and G.A. Gamburtsev was elected Director of the Institute of Geophysics. As a result of gradual development of the Institute, the number of its employees in the 1950s exceeded a thousand. The sudden death of academician G.A. Gamburtsev precipitated reorganization of the Institute and in 1956 according to the decree of the Academy of Sciences it was split into three separate institutions: the Institute of Physics of the Earth (IPE), the Institute of Physics of the Atmosphere and the Institute of Applied Geophysics. At the beginning of its functioning the Institute of Physics of the Earth was headed by corresponding member of the Academy of Sciences M.S. Molodensky and in 1960 academician M.A. Sadovsky succeeded him as Director of IPE and held this post up to 1988. In September 1956, when O.Y. Schmidt died, the Institute was named after him. In 1988 academician V.N. Strakhov was elected Director of IPE.

In 1977 the Department of Physical and Technical Rock Problems was separated from IPE and became the basis for the Institute of Integrated Exploration of Resources. In 1989 the Department of Computing Geophysics was reformed into the International Institute of Theoretical Earthquake Prediction and Mathematical Geophysics. In 1991 the Special-Purpose Department of IPE became the Institute of Dynamics of Geospheres.

In 1993 IPE was reorganized to create the United Schmidt Institute of Physics of the Earth RAS comprising the Institute of Planetary Geophysics, the Seismology Institute and the Institute of Experimental Geophysics. However, in 1998 the United IPE underwent another round of reorganization and for the period of 1998-2004 it incorporated the Gamburtsev Institute of Physics of the Earth, Borok Geophysical Observatory, the Geo-Electromagnetic Research Institute and RAS Geophysical Centre. During this period the RAS Geophysical Service separated from the main structure of the Institute and became an independent research body.

According to a decree of the Presidium of RAS from February 2004 the Gamburtsev Institute of Physics of the Earth, Borok Geophysical Observatory and the Geo-Electromagnetic Research Institute were consolidated to create the Schmidt Institute of Physics of the Earth RAS as it exists now. The RAS Geophysical Service functions as an independent scientific body.

From 1993 to October 2002 the United IPE was headed by academician V.N. Strakhov. In October 2002 academician A.O. Gliko became Director of IPE RAS.