The Russian Academy of Sciences originated from the aspirations of Tsar Peter the Great to modernize and westernize Russia during his reign. On January 28, 1724, he enacted a Senate decree to establish the institution in St. Petersburg, which was then the Russian capital. This academy was part of Peter's broader reforms aimed at enhancing Russia's scientific and cultural standing in Europe. By founding the academy, he intended not just to foster scientific inquiry but also to gather and disseminate knowledge that could contribute to the state’s governance and progress.

Initially referred to as the St. Petersburg Academy of Sciences, it attracted numerous scholars, both Russian and foreign, who contributed to various branches of knowledge, including physics, mathematics, and natural history. The academy functioned as a hub for intellectual exchange and development and played a crucial role in fostering a scientific community in Russia. Over the years, it produced significant research and educated many notable scientists. The academy was integral in introducing new scientific ideas and methods to the emerging Russian society, aligning with Peter's vision of creating a modern state.

The importance of the Academy was not only in scientific terms but also culturally, as it symbolized the shift towards enlightenment ideals in Russia. It marked a pivotal moment in transforming Russian society into one that valued education and scientific discourse, setting the stage for future advancements in various fields of knowledge. The name 'St. Petersburg Academy of Sciences' was maintained until 1917, when the political and social upheaval of the Russian Revolution prompted a rebranding of the institution.