The theatre was established following a decision by the RSFSR Council of People’s Commissars to thank the people of Nizhny Tagil for their heroic contribution to Victory in the 1941–1945 Great Patriotic War. During the war years, eleven enterprises from the Soviet Union’s western regions were evacuated to Nizhny Tagil. Uralvagonzavod, based in Nizhny Tagil, produced the bulk of all T-34 tanks made during that time. The theatre opened just before the Victory Day anniversary – on May 8, 1946.
Over 2007–2015, following an instruction from the President, the auditorium, service rooms, and building façade were renovated. The marble staircases and wall and ceiling paintings in the lobby and auditorium were renovated, and modern stage equipment and new sound and light equipment were installed.