As computational chemistry methods enjoy unprecedented growth, computer power increases and price/performance ratio drops, a large number of crystal structures can today be refined and their properties computed using modern theoretical approaches, such as DFT, HF, QM/MM, MCMM methods. Availability of several open source codes for computational and quantum chemistry and open-access crystallographic databases enables large scale computations of material structures and properties. We thus increasingly feel that an open collection of theoretically computed chemical structures would be a valuable resource for chemists, physicists, engineers and crystallographers. To address this need, we have launched a Theoretical Crystallography Open Database (TCOD, http://www.crystallography.net/). The TCOD database sets a goal to collect a comprehensive set of computed chemical and crystal structures that would be made available under Open Data license and invites all computational to deposit their published computation results or pre-publication data. Accompanied with a large set of experimentally determined structures in the COD database, the TCOD opens immediate possibilities for experimental and theoretical data cross-validation, matching chemical structure with computed chemical properties, and linking to numerous other chemical, biological and medical databases. To ensure high quality of deposited data, TCOD offers ontologies in a form of CIF dictionaries that describe parameters of computed chemical and crystal structures, and an automated pipeline that checks each submitted structure against a set of community-specified criteria for convergence, computation quality and reproducibility. The scope of TCOD and validation tools make TCOD a high-quality, comprehensive theoretical structure database, immediately usable in a broad range of disciplines.