The author of Ravenshaw College: Orissas Temple of Learning, 1868-2006, Nivedita Mohanty describes the scene thus:

“On 14 August 1947, before the midnight hours, the students and the staff assembled in front of the college portico. The College was illuminated with colourful lights. Attired in serwani and chudidar, Principal [Sachidananda] Ray arrived. He inspected the University Defence Corps. At twelve at night, Principal Ray hoisted the tricolor of independent India. The Defence Corps of the College held a parade and the Principal received their salute under the Indian flag. Principal Ray the addressed the gathering” (p. 237).

The celebrations continued for four days with a football match among the staff and the students, cultural programmes in the evenings, and a fund-raiser exhibition.

Four years earlier, in 1943, the Utkal University had come into existence and the affiliation of Ravenshaw College was finally transferred from Patna University to Utkal University. Utkal University started functioning as an affiliating body from the premises of Ravenshaw College. Within the following decade, post-graduate departments in Geology, Economics, Sociology, Chemistry, Physics and History were opened. Later, prestigious conferences such as the 12th All India History Congress, 26th session of the Indian Historical Records Commission,  the Indian Science Congress 1962, the All India Political Science Congress 1962 were organised in Ravenshaw College.

Ravenshaw College completed hundred years of its existence in 1968. IN 1978, Ravenshaw College was honoured by the Government of India through the issue of a commemorative stamp.