On 8 March 1928 Archbishop Riley performed one of his last public functions when he laid the foundation stone for the College Chapel, the work of building the first College within The University of Western Australia had begun.

On St George's day, the 23 April 1931 at 10:00am the Chapel was consecrated and at 3:00pm St George's College within The University of Western Australia was formally opened by His Excellency Sir William Campion the Governor of Western Australia. Archbishop Henry Frewen Le Fanu and Chief Justice Sir Robert MacMillan also spoke of the foresight of those, many of whom had passed away before the opening of the College, who helped bring the dream of the College into reality. Behind the College stood its remarkable founder, Sir John Winthrop Hackett, `a most liberal and far sighted man...' who was also a devout Christian and had much to do with the foundation of the University itself and its placement on the Swan River.

The first students went into residence at the commencement of first term 1931, and by April 1931 Acting Warden the Reverend Canon P.U. Henn was able to report to the Perth Diocesan Trustees that twenty men were in residence. One of whom 'H.J. Hopkins' was to be a 1933 Rhodes scholar, making St George's College synonymous with academic excellence which augured well for its future. By 1978 St George's College boasted 18 Rhodes Scholars.

By 1981 St George's College, then able to cater for 150 students, became a coeducational facility, a decision that has enhanced and brought a new dimension to the ongoing traditions and life of the College.