In the winter of 1561, a circuit intendant named Peng Jin stood at the southern foot of Yanshan. He observed several natural springs bubbling from the earth, pooling into a clear basin. Peng Jin donated ten gold pieces from his own salary, rallying local gentry to build what was then known as Yanfeng Academy. By the spring of 1562, students under the guidance of Professor Cui Han filled the halls with the sound of chanting voices. They studied beside the cold, sweet waters of the Dragon Spring, which fed the Bulian Pond. The academy was later renamed Longquan Academy in 1894.

The earth shattered in 1682. A massive earthquake leveled the timber halls. The academy was later relocated and renamed Fengshan Academy, but it was not until 1895 that Prefect Shi Hongshao undertook a major reconstruction on the original site, completing it in 1899. The new design featured a classical Chinese garden layout centred around the Bulian Pond, with the Lanxiu Pavilion at its heart and the Wanjuan Tower to the rear. On clear nights, the water mirrored the sky, creating the "Lotus Pond Reflecting the Moon" vista, celebrated as the finest of Chuxiong's eight scenic sights.

The academy adapted to a changing nation. It became a Higher Primary School in 1910, and in September 1932, it transformed into the Yunnan Provincial Chuxiong Middle School. Today, it operates inside Chuxiong First High School, serving as an active library and museum.

Walking through the courtyards, one encounters the three-story Wanjuan Tower, which houses thousands of books. Behind it, the Stele Corridor displays twenty-three stone slabs inscribed with calligraphy. Visitors can run their fingers over the cold, chiseled characters of imperial rulers and twentieth-century masters. In 2012, the Yunnan government designated the academy a provincial-level cultural relic. A recent restoration in 2018 repaired the rear courtyard, including the Xieyun Pavilion and its side wings. The spring still flows, its cool waters carrying the scent of lotus blossoms.