With these preparations being completed, the College opens in February 1986, in the presence of Metropolitan Maximos of Stavropoulis, Dean of Halki, and the Hon. Neville Wran, State Premier of New South Wales. Tuition is free, and is open to residential male students only, with the lecturers doing so voluntarily. At this time, the Bachelor of Theology degree is four years long, following the example set in equivalent degrees in Greece. The first edition of the College's annual theological review, ''Phronema'', is published the next year, under the editorship of Dr Guy Freeland.
The Sub-Dean of the College in these early years was Rev. Dcn Dr [[John Chryssavgis]]. In 1995, he was replaced by Bishop Seraphim. In November 1996, the College was visited by His All-Holiness Patriarch [[Bartholomew (Archontonis) of Constantinople|Bartholomew]] as part of his inaugural visit to Australia.
In the late 1990s, The College later changed the structure of the Bachelor of Theology to a three year degree, in line with equivalent degrees in Australia, with a compulsory fourth year (either in honours or an alternative postgraduate degree in pastoral theology and practice).