This article discusses how Taiwanese art history, as an academic discipline, was established. First, beginning in the 1950s, when Wang Bai-Yuan first wrote about Taiwanese art history, through academic formalization in the ’80s, until now, Taiwanese art has been integral to Taiwanese identity formation. Beside this, a boom in the construction of art museums since the 1980s also played an important role in establishing the history of Taiwanese art. This article, then, analyses how Taiwanese art was displayed by compiling and arranging Taiwanese art-relevant exhibitions in two major art museums: the Taipei Fine Arts Museum and the National Taiwan Museum of Fine Arts. Lastly, this article focuses on the status quo of Taiwanese art in contemporary society. Because of the deterioration and even disappearance of artworks, the history of Taiwanese art is now facing an imminent crisis. Through the discussion of the issues above, this article hopes to provide an opportunity to think about the relation between Taiwanese art and contemporary society and the way to treat the legacy of Taiwanese art.