The Treasury Department was established by the Royal Decree for Reorganizing Agencies of the Ministry of Finance on 23 May, 1933, in the reign of King Rama VII comprising four principle agencies: the Kasapsitthikarn Royal Thai Mint, the Great Royal Treasury Department, The Currency Department and the Department of Royal State Property and Public Property.

It was originally the Royal Treasury Department, later changed to the Department of the Treasury and Trade on 9 December, 1933, according to the Royal Decree on Reorganizing State Enterprise Policy Offices and Departments , B.E. 2495 (1952), and was then changed again to the Treasury Department (Krom Thanaruk) on 12 March, 1952, its current name.