Opened in 1931, the house was named after Charles William Eliot, who served as president of the university for forty years (1869–1909).

Describing Eliot House in the late 1950s and early 1960s, author Alston Chase wrote, "[A]lthough most Harvard houses in those days reflected the values of Boston Brahmin society ... Eliot was more extreme".

Some traditions of Eliot House are the charity event An Evening with Champions, the Eliot Boat Club (an intramural crew team), formal dinners such as the Charles Eliot Dinner, a strong sense of house pride, and the annual Spring Fete.

Eliot's prominent belltower is featured in many films, including Old School; Legally Blonde; Chasing Liberty; and Euro Trip, which features the tower at the end of the film, incorrectly identifying it as Oberlin College.

Eliot House is also featured prominently in Love Story and The Social Network.