On February 9, 2008, the Malone College board of trustees voted unanimously to rebrand as Malone University. According to an institutional press release, "The Board reaffirmed that mission and emphasized the potential for enhanced educational opportunities within the liberal arts context for the growing number of undergraduate students already studying in 90 different academic programs. The name change is also consistent with Malone’s desire to explore further graduate and continuing studies opportunities in Northeast Ohio and beyond."
Malone began offering graduate programs in 1990 and adopted a university structure in 1999. The official date of the name change has not yet been determined.