The Australian Singing Competition evolved from The Marianne Mathy Scholarship, which was established through a bequest made in the will of Marianne Mathy-Frisdane, a distinguished teacher who trained many famous Australian singers. Madame Mathy died in Sydney in October 1978.

In 1981, solicitor Roland Gridiger, Trustee of the Mathy Estate, approached the Music Board of the Australia Council for advice and assistance in regard to creating a scholarship honouring Mme Mathy. Two committees were formed: a General Advisory Committee to administer the scholarship and a Music Advisory Committee to determine rules and adjudication criteria. All committee members donated and continue to donate their time and skills. A professional monitoring committee is formed each year to assist the winner of The Marianne Mathy Scholarship to plan and implement an effective course of singing study and/or activities.

A scheme for regulating the Marianne Mathy Scholarship was approved by the Equity Division of the Supreme Court of New South Wales on 26 February 1982. The first Scholarship was awarded in June of that year. Since the outset, time and experience have shaped the course of The Australian Singing Competition.

Publicity associated with the Marianne Mathy Scholarship extended to New Zealand when New Zealander, Nicola Waite, was announced the inaugural winner. The Trustees of the Grand Opera Society of Auckland established a link with the Trustee of The Marianne Mathy Scholarship, which enabled an Australian contestant to enter the New Zealand scholarship as a Semi-Finalist, and vice versa. In 1983, the Dame Sister Mary Leo Scholarship was won by Deborah Riedel (NSW). The following year, it was won by Fiona Maconaghie (ACT). Several New Zealand singers, including Paul Whelan have competed successfully in The Australian Singing Competition.

In 1983 Music & Opera Singers Trust Limited, a non-profit company, was incorporated to provide professional management and consultancy for The Australian Singing Competition.

A further development in 1983 was the decision to promote The Marianne Mathy Scholarship for classical and operatic singers and to establish a separate section catering for contemporary singers. Both sections were to come under the umbrella of The Australian Singing Competition. The contemporary section was suspended in 1989 due to the withdrawal of major sponsorship.

In 1986 the Armstrong-Martin Scholarship for opera singers under the age of 35 came under the auspices of The Australian Singing Competition. Two years later The Australian Singing Competition's annual event became known as The Mathy & Opera Awards.

From 1998 to 2002 the Australian Singing Competition was fully sponsored by Dr Haruhisa Handa and the International Foundation for Arts and Culture. Dr Haruhisa Handa is renowned as a patron of the arts and as an international entrepreneur. This sponsorship enabled the Competition to engage an orchestra to accompany the Mathy Finalists and to hold the Finals Concerts in Perth and Adelaide. In subsequent years funds have been provided by Dr Handa and IFAC solely for the purpose of engaging an orchestra for the Mathy Awards Finals Concert. Sponsorship of the major award in the Opera Awards was provided by the Australian Elizabethan Theatre Trust from 2001 until 2006. Since 2007 the main award has been sponsored by the Youth Music Foundation of Australia Inc. Over 2000 singers have participated in the Competition and have had the benefit of being heard and interviewed by eminent professionals from the classical singing fraternity. Of the 47 winners of the Mathy Awards and Opera Awards, the majority are pursuing careers in Australia and overseas as are many of the other singers who have shared in over $2 million worth of prizes or valuable opportunities that have been provided.

The list of awards offered to recognise and encourage exceptional young classical singers is ever increasing and continuing efforts are made to attract additional scholarships and awards. Development is ongoing and exciting. The greatest reward for the administration is seeing the young winners blossom as stars of the musical world.