Eight fire appliances tackled the blaze at the Principals House which was being renovated. They worked for most of Saturday to put the fire out.
The Minister visited the scene of the fire today with Chief Fire Officer, Colin Lammey.
Michael McGimpsey said: "I would like to pay tribute to the efforts of the many fire fighters who worked so diligently to save this very historic and prestigious building. Their efforts ensured that the fire remained quite localised within the building and did not spread more widely and cause further damage. Most importantly we are all incredibly grateful that there was no loss of life.
"I am sorry to hear that two fire fighters were injured as they tackled this fire. However I welcome the news that they are both well and back on duty. This serves to remind us all that our fire-fighters put their lives on the line every day, to save lives in their communities."
The Minister continued: "I very much understand that the management, staff and students at Union Theological College will find it difficult to come to terms with the damage that this fire has caused, especially as this building was undergoing renovation work. However, I know we are all appreciative that everyone is safe and our thanks go to our fire and rescue service personnel.
"We should all take a lot of comfort from the fact that Northern Ireland has one of the best Fire and Rescue services in the UK."
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