The orchestra was founded in 1966 by the Arts Council of Northern Ireland, with Maurice Miles as its first principal conductor, János Fürst as its first leader, and Donald Froud as its first general manager. Fürst later became the orchestra's assistant conductor. The Orchestra has existed in its present form since 1981, when the BBC Northern Ireland Orchestra (BBC NIO) was disbanded. The Ulster Orchestra Society Ltd was then established (a company limited by guarantee and a registered charity) with funding from the Arts Council of Northern Ireland, the BBC, Belfast City Council and Gallaher Ltd., and the size of the Orchestra was increased with players from the disbanded BBC NIO.