The team, based in and around Dallas, Texas, was founded in 2014.

The Dallas Elite reached the playoffs and national championship game three years in a row, 2015–2017.

They defeated the Boston Renegades 31–21 at Highmark Stadium in Pittsburgh on July 22, 2017, to win the WFA Division I National Championship.

The 2021 Dallas Elite Mustangs are owned by Maria Spencer.

The team plays home games at Alfred J. Loos Athletic Complex in Addison and Prestonwood Christian Academy in Plano.