Apart from the portraits of famous seamen from Perast, arms and other exhibits from the history of Perast, there had been archival material of Perast municipality dating back to 1441. The Museum was housed in Perast Town hall, on the square next to Saint Nicholas church. The Museum space was enlarged in 1948 when one part of the collection related to Captain Marko Martinović was exhibited in one house at the end Perast, on the occasion of the 250th 'anniversary of his instructing the Russian boyars the naval skills in Perast.
The next stage in the development of Perast museum is connected with the time when many homeland museums were founded. Consequently, by the decision of the Ministry of education of the People's Republic of Montenegro, the Homeland Museum of Perast was founded. The need for uniting the Museum exhibits into one space, which would offer adequate conditions of storing and exhibiting, started to be realized several years later. The space of the most representative palace in Perast was being purposefully arranged for museum. Restoration and reconstruction of the palace was completed in 1957, according to the project of architect Ivan Zdravković. On that occasion some necessary construction works were done in order to facilitate linking of the ground floor with the first and second floor.
The last stage of the development of the Museum starts in 1992 when it became a segment of the municipal public institution "Museums" within which there is the Historical museum with the "Lapidarium" (collection of stone monuments) and the Gallery of Solidarity.