Chaoyang University of Technology was founded in 1994 through the generosity of Dr. Tien-sheng Yang, the President of the Ever Fortune Group, a major R.O.C.'s conglomerate. He founded it in the memory of his parents, and in return for the support he received throughout the years from the people and communities of central Taiwan. In 1988, he chose a site in Wufeng Township of Taichung County (now part of Taichung City), and after six years of preparation, on April 14, 1994, it received permission from the Ministry of Education to begin accepting students as Chaoyang Institute of Technology.[3] 

In its first year, Chaoyang Institute of Technology had eight departments and over 900 students. On August 1, 1997, Chaoyang Institute of Technology was designated by the Ministry of Education as a University of Technology, the school name was officially changed to Chaoyang University of Technology. It was Taiwan's first private University of Technology. 

In addition to its new designation, Chaoyang University of Technology has continued to expand, and today five colleges, twenty-two graduate schools, including five doctoral programs, twenty-two master's degree programs and twenty-two departments, as well as its Evening Division, General Education Center, Continuing Education Center, Office of Research and Development, Business Incubation Center, and College of Enterprise Innovation exist.