As society became more open and free, research on the 228 Incident began to be conducted. In October 1989, the Historical Research Committee of Taiwan Province (now Taiwan Historica) initiated oral history interviews on the subject. In January 1991, civil groups formed the 228 Incident Research Group. The Executive Yuan also established a similar research unit to conduct investigations. In December 1991, civil organizations held the first 228 Incident Academic Symposium. In February 1992, the Executive Yuan published the "Research Report on the 228 Incident", presenting the results of its investigation. Subsequently, research on the 228 Incident continued constantly.

On February 28, 1995, the 228 Memorial Monument was completed and unveiled in Taipei’s 228 Peace Memorial Park. On April 7 of the same year, the "February 28 Incident Disposition and Reparation Act"  (whose name was changed to the "February 28 Incident Disposition and Compensation Act" in 2007) was promulgated, and in December, the Executive Yuan established the Memorial Foundation of 228, which was tasked with processing compensation applications, compensating the victims of the incident, organizing commemorative events, restoring the reputation of the victims, investigating the truth of the incident, and educating the public. In July 2006, in accordance with the February 28 Incident Disposition and Reparation Act, the Executive Yuan designated the site at 54 Nanhai Road in Taipei City as the National 228 Memorial Museum. On February 28, 2011, after the historical building had been restored, the museum was officially opened to the public.