The university was founded in 1867 as an Episcopalian seminary under the name "Centenary Biblical Institute". Its current name is that of an early benefactor and board member, the Rev. Lyttleton Morgan. The institution was de-privatized in 1939, and designated as a university offering doctorates in 1975. It was known as "Morgan College" during the years 1890-1975.
Morgan is a member of the Mideastern Athletic Conference, and its athletic teams are known as the Bears.
The land area of the campus is more than 143 acres.