In December 1992, Osaka Universal Planning Inc. was established in Minato-ku, Osaka to plan and research for the development and construction of a large-scale theme park in Japan. In February 1996, the master agreement regarding planning, construction and operation of the Universal Studios Japan theme park was concluded with American corporation MCA Inc. Osaka Universal Planning Inc. was also renamed USJ Co., Ltd. Licensing agreements regarding the planning, construction and operation of Universal Studios Japan was concluded with the Universal Group in 1998 and later that year, construction of the theme park officially began.

In July 1999, Universal sealed a marketing deal with 11 major Japanese companies, including All Nippon Airways and Matsushita Electric, to sponsor the park's attractions.

On February 21, 2001, in preparation for the opening of Universal Studios Japan, All Nippon Airways unveiled the Woody Woodpecker-themed Woody Jet, using the Boeing 767-300, for its domestic flights. The next day, Universal Studios Japan held a pre-opening preview.

The park opened on March 31, 2001, being the third to be opened by Universal and the first outside the United States, costing US$ 1.7 billion.

The opening of Universal Studios Japan gave a boost in the economy of the Kansai region and has added another 29,000 jobs in the region's construction and tourism-related industries.