The Museum of Contemporary Art began its activity, based on the collections of the City of Funchal prize, the then General Board of the Autonomous District of Funchal, Tourist office and the National Society of Fine Arts of Lisbon, in the years 1966 and 1967. It was first understood as a contemporary extension of the Museum of Quinta das Cruzes, running though the first time, temporary headquarters on the premises of the Regional Directorate of Cultural Affairs and then the Quinta Magnolia in Funchal, in the 80s This is a collection of Portuguese contemporary art from the 60s to the present day, with works by some of the most significant national artists. The entries in the 60 collections highlight the names of Joaquim Rodrigo, Nuno de Siqueira, António Areal, José Escada, Helena Almeida, Artur Rosa, Jorge Martins and Manuel Batista. Installed from 1992, the collection of Contemporary Art in St. James Fort and created the Museum, restarted up a groundswell process of collection with works by Lourdes Castro, René Bertholo, José de Guimarães, Ilda David, Graça Pereira Coutinho, Filipe Rocha da Silva, Jaime Hare, António Palolo, José António Cardoso, João Queiroz, José Loureiro, Albuquerque Mendes, Fernando Calhau, Michael Biberstein, Pedro Cabrita Reis, Pedro Portugal, Sofia Areal, Miguel White, Pedro Proenca, Fernanda Fragateiro, Ana Vidigal, António Campos Rosado, Rui Sanches, Manuel Rosa, Patricia Garrido, Helena Almeida, Eduardo Batarda, Gaetan, Pedro Casqueiro, Ana Vidigal, among many others.

The Museum also has a collection of works by artists who have been developing their activity on the island of Madeira, as Élia pepper, Celso Caires, Isabel Santa Clara, Eduardo de Freitas, Berimbau Grace, Teresa Garden, Filipa Venancio, Karocha Jose Manuel Gomes, Guilhermina da Luz, Ara Gouveia, Carla Cabral, Ligia Gontardo, António Rodrigues, Danilo Gouveia, Guida Ferraz, among many others. Emblematic was also the possibility, through patronage, the entry in the collections of the Museum of a work of Maria Helena Vieira da Silva.
The Museum lives of temporary events, giving visibility to the local artists.