[1]Beta Phi Mu was founded in August 1948 at the University of Illinois at Urbana-Champaign[2][3][4] Its founders were library educators and leading librarians.

[5] Beta Phi Mu was created as an honor society for information sciences to recognize the notable achievements within the profession.

[6][7] The oldest library honor society in the United States, local Pi Lambda Sigma founded in 1903 at Syracuse University, became a chapter of Beta Phi Mu in 1959.

[4] The society presents the Beta Phi Mu Award to a library school faculty member or an individual for distinguished service to education for librarianship.

[4] Eligibility for membership in Beta Phi Mu is by invitation of the faculty from an ALA-accredited professional degree program.