SMS Szent István was the last of four Tegetthoff-class dreadnought battleships built for the Austro-Hungarian Navy. Szent István was the only ship of her class to be built within the Hungarian part of the Austro-Hungarian Empire, a concession made to the Hungarian government in return for its support for the 1910 and 1911 naval budgets which funded the Tegetthoff class. She was built at the Ganz-Danubius shipyard in Fiume, where she was laid down in January 1912. She was launched two years later in 1914, but Szent István's construction was delayed due to the smaller shipyards in Fiume, and further delayed by the outbreak of World War I in July 1914. She was finally commissioned into the Austro-Hungarian Navy in December 1915.

The Tegetthoff class was a class of four dreadnought battleships built for the Austro-Hungarian Navy. Named for Austrian Admiral Wilhelm von Tegetthoff, the class was composed of SMS Viribus Unitis, SMS Tegetthoff, SMS Prinz Eugen, and SMS Szent István. Construction started on the ships shortly before World War I; Viribus Unitis and Tegetthoff were both laid down in 1910, Prinz Eugen and Szent István followed in 1912. Three of the four warships were built in the Stabilimento Tecnico Triestino shipyard in Trieste; Szent István was built in the Ganz-Danubius shipyard in Fiume, so that both parts of the Dual Monarchy would participate in the construction of the ships. The Tegetthoff-class ships hold the distinction for being the first and only dreadnought battleships of the Austro-Hungarian Navy. The SMS Szent István had a different more modern propulsion system than her sister ships.