[9] It was founded as a classical liberal party but later developed a more social-democratic tradition, joining the Socialist International in 1999.

The election victory of independent candidate Álvaro Uribe in 2002 put an end to dominance of two party politics in Colombia.

[14] In the rural area, Gaitanism faced a bloody repression to which its scrupulous respect for legality did not prepare it: 15,000 militants were murdered between 1945 and 1948 by death squads supposedly close to the conservatives.

While Samper had immunity to prosecution as president, a number of his close associates were convicted of involvement in the so-called Proceso 8000 scandal, including Defence Minister Fernando Botero Zea.

However Álvaro Uribe, a former senator and governor from the party launched an independent presidential campaign, backed by the Conservatives and dissident Liberals.

The Liberal Party went on to join the governing coalition of President Juan Manuel Santos, and supported his bid for reelection in the 2014 Colombian presidential election.

For the 2018 Colombian presidential election, the party nominated former Vice President from 1994-1996 Humberto De la Calle.