The University of Glasgow's £32m Imaging Centre of Excellence (ICE) aims to bring clinical academics together with industry to improve patient care.
It is the first time a 7 Tesla MRI scanner will be used in the UK in a clinical setting.
It will be used to improve treatment for conditions such as stroke, vascular dementia and Alzheimer's disease.
The facility was built in collaboration with NHS Greater Glasgow and Clyde (NHS GGC), with £16m of funding from the Medical Research Council and Glasgow City Region City Deal.
The project is expected to bring 396 new jobs to the city over a seven year period, contributing about £88m to the local economy.
The 7 Tesla MRI scanner was delivered to the site last November. A giant crane eased the 18-tonne device down an alleyway with inches to spare on each side, then through a hole in the wall of the new building.
The building will also house the Clinical Innovation Zone to help biomedical companies improve healthcare technology through collaborative work.
There willl be a further floor of neuro-operating theatres, which will be funded by the NHS GGC.
Prof Dame Anna Dominiczak, of the College of Medical, Veterinary and Life Sciences, said it would be a "world-leading" example of a precision medicine centre.
"The ICE isn't about ivory tower research," she said.
"It is about bringing world-leading clinical academics together with industry to collaborate and to create something that not only positively benefits patients but also brings a meaningful economic benefit as well."
Glasgow City Council leader Frank McAveety said the facility was a great example of how the Glasgow City Region City Deal was helping to reinforce Glasgow's global reputation, while also delivering economic and social benefits.
Principal of the university, Prof Anton Muscatelli, said: "ICE exemplifies the university's goal to create visionary buildings that promote interaction with industry and other key stakeholders, bringing inspiring people together in a world-class environment to share knowledge that can ultimately change the world."
A new state-of-the-art medical research facility, which houses a powerful MRI scanner, is to be officially opened.