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The Western Ukrainian National University was originally founded as the Ternopil Branch of Financial and Economic Faculty of Kyiv Institute of National Economy in 1966. A year later the branch became a separate faculty and in 1971 it turned into Ternopil Financial and Economic Institute. In 2005 the institute was granted full university status and it became Ternopil National Economic University. In 2020 it was renamed West Ukrainian National University.

The university is located in Ternopil, one of the largest cities in western Ukraine. There are three branches of the university spread across the city of Ternopil: Lutsk Branch, Sambir Branch, and Svaliava Branch.

The university is divided into five faculties: the faculty of economics and management, faculty of computer information technologies, faculty of finance and accounting, faculty of law, and the faculty of humanities and social sciences. Each faculty offers a range of courses at both undergraduate and graduate level.

Throughout the year, the university carries out innovative research projects. There are a number of research centres at the university that facilitate these projects such as the Education and Research Institute of Bioresources and Environmental Management, the Education and Research Institute of Innovative Educational Technologies, and the Education and Research Institute of Creative Studies.