Bhonsala Military School, Nasik was established by Late Dharamaveer Dr. Balkrishna Shivramji Moonje, who was a firm believer of Indianisation of the Armed Forces during the British rule and indispensability of military training to Indian youth. Dr Moonje formed the Central Hindu Military Education Society at Nasik in 1935 and started the school on 12th June 1937.

The school started functioning in the Surgana Palace in Nasik city with 90 students on its roll. The Maharaja of erstwhile Gwalior state, H H Shriman Jivajirao Scindia inaugurated the main building of the school. In his inaugural speech, He said, "It is not a mere coincidence that within a short period of the opening of a first rate public school in India (he was referring to the Doon School, Dehradun), we are here today to open a first rate Military School." Such was the charishma, charm and aura of the founder, that he made the then Governor of Bombay State, Sir Roger Lumley to lay the foundation stone of the present main building of the school.

Over the years, the school has established itself as a premier residential school catering for educational needs of students from all over India and also as a focal point for Military Education. In 1995, the school was granted affiliation by Indian Public Schools Conference, an association of heads of leading public schools of the country.