Since 1953, the Hong Kong Baptist Theological Seminary library is named in honor of Milledge Theron Rankin (1894-1953). Dr. Rankin served in China for a number of years and then became the Executive Secretary of the Foreign Mission Board of the Southern Baptist Convention. His life was devoted to spreading the gospel throughout the world.

Ever since the Seminary moved from Kowloon to the Sai O campus in Spring 1999, the Library has been located at the 2nd floor of the Administration and Education Block of the new campus, providing seats and reading tables for 50 readers. In addition to the current holdings of more than 80,000 English & Chinese books, 290 periodical titles, 1,000 electronic journal titles, 5,100 bound journals, 8,900 AV materials & 582 CD-ROM discs (338 titles), the library collection has regularly been expanding.

The Library has adopted the Dynix Automated Library System in 1995, which is an integrated and professional library system with Cataloguing, Circulation and Online Public Access Catalogue (OPAC) functions. Through simple search queries by Title, Author, Subject or Keyword, library users are able to retrieve the bibliographical records, identify the location of particular items, and check the availability of the items in the Library.