IIT Madras MBA, established in 2004, is one of the top MBA colleges in India. IIT Madras is ranked among the top Indian B-schools and has been ranked 15th by NIRF 2023 for MBA programmes. The MBA course offered to students at IIT Madras is a full-time residential flagship program of 2 years duration. The Department of Management Studies of IIT Madras offers MBA as its flagship course.

In addition to the MBA programme, the department has research programs at the master's (MS) and doctoral (PhD) levels, an executive MBA program for middle and senior level executives. The department is also a partner in the Multi-Institutional Diploma Program for Visionary Leaders in Manufacturing (PGPEX – VLM) along with IIM Calcutta and IIT Kanpur.