Central Museum, Indore was established as institution of education department named Nararatna Mandir in 1923 by then holkar state, which was housed in a building on M.G. Road presently known as Devlalikar gallery, During the period of Holkar king Tukojirao III. The main objective of this institution was to collect photos and documents of great personalities. This institution was provided with a library. It was decided to create a museum during the time of collection of artifacts and antiquities scattered throughout the State. Consequently, in 1929 a museum was formed in Nararatna Mandir. On account of its position at the centre of Holkar State the museum was declared as Central Museum. In 1965, the museum was shifted in present building. The museum having ancient artifacts and antiquities has gone through various changes according to museology and choice of the common people. In 1975, coins gallery and antiquity galleries were formed in this museum named Devi Ahilya mudra withi. Though a gallery for antiquities and excavation material was also formed. But stone sculptures were always the centre of attraction. In 1977, the selected stone sculptures found from Hinglajgarh of Mandsaur district were braught to the museum. Consequently, a new gallery known as Hinglajgarh Art Gallery was formed. Presently, there are eight galleries in the museum which are displayed with various artifacts subject wise.

This gallery is highly informative in which the evolution of man and his belongings in various periods have been displayed. There are antiquities of Mohen-jo-daro excavtions of Harappan civilization, which were sent to this museum in 1936-37 by the Custodian of Mohen-jo-daro. The antiquities of chalcolithic period unearthed from Kayatha, Awara, Navadatoli, Dangawda, Ajadnagar, Khera, Pagara, and Kasharawad excavations all from Madhya Pradesh have also been displayed in this gallery. These antiquities include terracatta objects, beads, bangles alongwith pottery.