MARINA introduced the world-wide trend through a series of meetings with the Philippine Association of Naval Architects and Marine Engineers (PANAME) and other cognizant associations belonging to the shipping and shipbuilding industry sectors. The main concern then was to directly involve Filipino expertise and competency in the growing concern for safety at sea and the protection of the marine environment. Foreign classification societies mostly conduct surveys and classification of ships plying the international trade. The main bulk of Philippine-owned registered ships engaged in the domestic trade remained unclassed. It was in this light that the need to establish a Philippine classification society was seriously considered.

PRS started regular survey work for classification of vessels in the domestic trade on January 19, 1991, after its first Rule Book for the Construction and Classification of Steel Vessels (1989) was finally printed in book form and formally launched at the newly inaugurated Manila Diamond Hotel with the maritime community in attendance and with no less than then President Corazon C. Aquino, the Secretary of Transportation and Communication, the MARINA Administrator and the Commandant of the Philippine Coast Guard (PCG) delivering their congratulatory messages. PRS was subsequently accredited by the Philippine Coast Guard as a Classification Society for the domestic fleet on June 7, 1991.

On February 22, 1994, PRS was accredited by the PCG as a Load Line Assigning Authority.

On September 5, 1996 , PRS was accredited as an Oil Pollution Prevention Survey Authority and as Noxious Liquid Substance in Bulk Survey Authority under the MARPOL Convention.

MARINA officially accredited PRS on July 3, 2001 after said agency had formulated its criteria for accreditation of Classification Societies for the domestic trade.

PRS has under its classification and survey more than 600 vessels with a total gross tonnage of 490,346.26. These cover a broad spectrum from passenger vessels to cargo, tankers, tugboats, training ships etc. Each of the vessels had undergone rigid and careful scrutiny by the PRS and up to this day not a single classed vessel has been found to have structural or mechanical failure.

The Society of Naval Architects & Marine Engineers Inc. (SONAME) joins PRS as ex-oficio member of the PRS Board of Trustees. SONAME is the rebranded name of PANAME since 2008 and has an expanded membership scope to cover not only naval architects and marine engineers but all those professionals involved in the design, construction, operation and repair and maintenance of marine vessels, structures, machinery and related fields.

In August 2017, PRS achieved official certification to ISO 9001:2015 standards through ABS Quality Evaluations. This certification marked a significant step in strengthening its Quality Management System and reaffirmed the organization's commitment to meeting international standards, improving operational efficiency, and delivering consistent, high-quality service across the maritime industry.

As the number of active vessels grew, PRS experienced gradual financial stability, supported by the continued renewal of MARINA’s Certificate of Accreditation (COA) through annual audits. Additionally, PRS staff and surveyors enhanced their expertise by attending various professional development trainings, including tax seminars and hull integrity seminars, further reinforcing the organization's commitment to excellence and industry standards.