YCZA was founded in 1952 by Prof. Nadir Modi and Prof. Khurshed Sheriar at the Jai Hind College in Mumbai.  The association was founded with the aim of bringing the youth of the community closer, to generate within them interest and involvement in the welfare of the community, its culture and religion.

After two years of its establishment the YCZA became so popular among Zoroastrian collegians, that it was made an Inter-Collegiate association.

YCZA succeeded in bringing together a varied group of Zoroastrian students, undergraduates and post-graduates, from different streams and welded them into a single harmonious friendly association.

Subsequently, Zoroastrian Professors from other colleges joined YCZA as Associate Professors, viz. Late Prof. Pesi Dubash of Jai Hind College and Prof Pervez Battiwala who was associated with SIES College.

The YCZA Educational and Charitable Fund was established in 1977 as a registered Public Charity Trust with dedicated Trustees, all YCZAites.

The Fund distributes substantial educational aid to students as freeships and scholarships for studies in India and abroad, as also financial aid to visually handicapped persons (irrespective of caste or creed).