Rev. Dr. S. Ignacimuthu, S.J., succeeded Rev. Fr. Thamburaj, S.J., as the Principal in the year 1997. The year 1998 saw the change of guard in the Jesuit administration Rev. Fr. L.X. Jerome, S.J., as a Rector and Rev. Fr. Francis Vazhapally, S.J., as Secretary of the College.

The College celebrated the Platinum Jubilee with the Governor Shrimathi Fatima Beevi inaugurating the yearlong celebration. The final celebration for statewide competition held on Religious harmony took place on 6 th February 2000. Honourable Chief Minister Dr. M. Karunanidhi , presided over the function and distribute the prizes.

Education minister Mr. Anbazhagam inaugurated the Platinum Jubilee exhibition and it attracted several college and school student in and around the City of Chennai . Several past Students who are in the Cine - Field were felicitated during a musical evening by Gangai Amaran.

Platinum Jubilee year witnessed the visit of the Superior General of the Society of Jesus - Very Rev. Fr. Peter Hons Kolvenbach, who blessed the Platinum Jubilee Building and addressed the Staff and Students of the College.

The first NAAC assessment took place between 27 - 30 July 2000 and Five Star Status was conferred on the College.

MOU's were signed with IGCAR and LIFE, Loyola College, for collaborative Research and training. Loyola also signed an MOU with South Bank University, London to conduct a joined M.Sc in Business International. Loyola College signed an MOU with the Pondicherry Central University was also signed to offer some attractive PG and various Diploma Courses through Specialised contact classes. The twinning programme was inaugurated on 19th September 2000.

Rev. Dr. S. Ignacimuthu, S.J., left Loyola College and took over as the Vice Chancellor of Bharathiar University, Coimbatore. Subsequently in June 2002 he was appointed as the Vice Chancellor of Madras University. He became the first Indian Jesuit to occupy the full time post of the Vice Chancellor.

Rev. Dr. V. Joseph Xavier, S.J., succeeded Rev. Dr. S. Ignacimuthu, S.J., as the Principal of College. Rev. Dr. B. Jeyaraj, S.J., and Rev. Dr. Francis M Peter, S.J., took over as Rector and Secretary of the College respectively in 2001.

In 2004 Rev. Fr. A. Albert Muthumalai, S.J., and Rev. Fr. F. Andrew, S.J., took over as Principal and Secretary of the College respectively.

The University Grants Commission, in its communication dated September 2, 2004, selected LOYOLA COLLEGE for the award “College with Potential for Excellence” (CPE).

Blessing of the new buildings “School of Media Studies” and additional floor in J.D.Block in 2005.

Inauguration of School of Physical Sciences in 2006.

The college was reaccredited A+ the top rank by the NAAC in 2006.

The Jesuit Jubilee celebration commenced in Loyola campus on 2nd December 2006.

Rt Rev. Dr. Lawrence Pius, Auxiliary Bishop of Madras-Mylapore, blessed the renovated church on 3rd December 2006.

The guest rooms & IOB, Loyola branch in new premises in 2007.

Rev. Fr. Amal Kulandaisamy, S.J., succeeded Rev. Dr. B. Jeyaraj, S.J., as the Rector of the college and Rev. Dr. S. Peter S.J., succeeded Rev. Fr. F. Andrew, S.J., as the secretary of the college in 2007.