Matthias was the first non-Italian monarch promoting the spread of Renaissance style in his realm. His marriage to Beatrice of Naples strengthened the influence of contemporaneous Italian art and scholarship, and it was under his reign that Hungary became the first land outside Italy to embrace the Renaissance. The earliest appearance of Renaissance style buildings and works outside Italy were in Hungary. The Italian scholar Marsilio Ficino introduced Matthias to Plato's ideas of a philosopher-king uniting wisdom and strength in himself, which fascinated Matthias. Matthias is the main character in Aurelio Lippo Brandolini's Republics and Kingdoms Compared, a dialogue on the comparison of the two forms of government. According to Brandolini, Matthias said a monarch "is at the head of the law and rules over it" when summing up his own concepts of state.

Matthias also cultivated traditional art. Hungarian epic poems and lyric songs were often sung at his court. He was proud of his role as the defender of Roman Catholicism against the Ottomans and the Hussites. He initiated theological debates, for instance on the doctrine of the Immaculate Conception, and surpassed both the Pope and his legate "with regard to religious observance", according to the latter. Matthias issued coins in the 1460s bearing an image of the Virgin Mary, demonstrating his special devotion to her cult.

Upon Matthias's initiative, Archbishop John Vitéz and Bishop Janus Pannonius persuaded Pope Paul II to authorize them to set up a university in Pressburg (now Bratislava in Slovakia) on 29 May 1465. The Academia Istropolitana was closed shortly after the Archbishop's death. Matthias was contemplating establishing a new university in Buda but this plan was not accomplished.

Decline (1490–1526)