In September 1998, a new Zhejiang University was established on the basis of the amalgamation of the four former individual universities, namely Zhejiang University, Hangzhou University, Zhejiang Agricultural University and Zhejiang Medical University, which were all located in the garden city of Hangzhou.

Approved by the State Council, the founding of the new Zhejiang University has been a significant move in the reform and development of China's higher education.

The four universities have grown out of the same ancestry, the Qiushi (with the literal meaning of "seeking truth" in Chinese) Academy, which was founded a century ago as one of the earliest institutions of higher learning in China. As a result, they have all inherited from it the spirit of "Qiushi" and at the same time, built up their own distinctive features in teaching and research.

Endowed with a pleasant climate, picturesque surroundings and a favorable academic atmosphere, Zhejiang University is an ideal place for teaching, research, and learning. With five campuses, namely Zijingang, Yuquan, Xixi, Huajiachi, and Zhijiang, the university now occupies a total area of 518 hectares and a floor space of over 2,000,000 square meters.

At present, the total number of full time students has reached over 39,000, including more than 22,900 undergraduates, over 9,500 postgraduates working for master's degrees and over 6,600 Ph.D. candidates. There are also nearly 37,000 students taking courses in degree and non-degree programs in adult education. Among its 8,400 staff members and workers, there are 13 members of the Chinese Academy of Sciences, 13 members of the Chinese Academy of Engineering, over 1,200 full professors and over 2,400 associate professors. With a total space of 83,000 square meters, the university library has a collection of more than 5,840,000 volumes. In addition, the university has 6 affiliated hospitals, providing medical services of various kinds for people from all over Zhejiang province.