The University of Banja Luka started the initiative to establish the Faculty of Medicine as early as 1976, with a view to educating university degree experts holding the professional title of doctor of medicine. Preparations lasted almost two years, and the Faculty of Medicine was established on 17 March 1978 by Decision No 01-012-33/78 of Banja Luka Municipal Assembly. There were 152 students in the first generation, and the first lecture was on 15 November 1978. The Faculty of Medicine achieved a strong reputation already in the first decade, which is supported by the fact that at the end of the 1990s, there were more than 240 foreigners among a total of 1 216 students.

The Faculty of Medicine provides training and conducts research to educate and develop medical professionals, including graduates and postgraduates. This includes acquiring professional titles and academic degrees in medical sciences. Additionally, the faculty conducts scientific research for the same purpose.

The Faculty of Medicine at the University of Banja Luka has developed rapidly since its establishment and now offers a range of study programs. These include Medicine, Dentistry, Pharmacy, Health Care and Nursing, Midwifery, Physiotherapy, Radiological Technology, Nursing, Sanitary Engineering, Medical Laboratory Diagnostics, Master of Health Studies, and a new course for the Master of Health Studies in Child and Youth Mental Health. The Faculty offers all three cycles of studies, including integrated studies of Medicine, Dentistry, and Pharmacy, undergraduate studies of the Health Care and Nursing Study Programme – Nursing, the second cycle of studies – Master of Health Studies, and the third cycle of studies – Biomedical Sciences.