Guillermo Tolentino. "Filipinas In Bondage" Bronze Cast, undated 39x23x26 cm.

The Jorge B. Vargas Art Collection consists of oil paintings, watercolors, pastels, drawings, and sculptures. It enjoys the unique distinction of being the only art repository in the country embracing the entire range of Philippine artistic creativity from the 1880s to the 1960s.

Among the collection are works by late 19th century artists such as Lorenzo Guerrero, Simon Flores, Juan Luna, and Felix Resurrecion Hidalgo. From a later period include paintings done in the 1930s and 1940s most notably by Fabian de la Rosa and Fernando Amorsolo. There are also artworks by Jorge Pineda, Vicente Rivera y Mir and other artists which were referred to as the "Amorsolo School." The collection also boasts of modernist works such as those of  Victorio Edades, Juan Aralleno, Diosdado Lorenzo, along with contemporaries who were active in the 1950s.

The Museum collection also comprises of outstanding works by women artists, recognized masters of semi-figurative art, UP graduates of the 1950s and 1960s and editorial drawings,, cartoons, and caricatures. It includes sculptural pieces of Guillermo Tolentino and Graciano Nepomuceno, among other sculptors.

Through this collection, Vargas Museum aims to contribute towards the appreciation of the country's artistic heritage and to foster an awareness of the history of Philippine art.