The band was originally formed by John in 1970 as a trio, consisting of himself, drummer Olsson, and bassist Dee Murray.

The critical success of the band was at its peak in the 1970s, when they released a streak of chart-topping albums in the US and UK, which began with Honky Château (1972) and culminated with Captain Fantastic and the Brown Dirt Cowboy (1975).

After the release of Captain Fantastic and the Brown Dirt Cowboy, John fired Murray and Olsson from the band and added several new musicians to the band's lineup, including Kenny Passarelli, Caleb Quaye, James Newton Howard, and Cindy Bullens, as John wanted to achieve a different sound.

New musicians that joined the band around this time include Richie Zito, Tim Renwick, Fred Mandel, Charlie Morgan, David Paton, Helena Springs, Jody Linscott, Jonathan Moffett, and Guy Babylon.

[3][4][5] Murray and Olsson first appeared together on disc with John on the song "Amoreena" from the 1970 studio album Tumbleweed Connection.

The arrival of he and Johnstone in the group formed the classic line-up of the band, which played on the albums Honky Château, Don't Shoot Me I'm Only the Piano Player, Goodbye Yellow Brick Road and Captain Fantastic and the Brown Dirt Cowboy, and went on several world tours.

In February 1975, the non-album single "Philadelphia Freedom" was credited to The Elton John Band, along with the single's B-side "I Saw Her Standing There" (recorded live with John Lennon at Madison Square Garden) and the band's 1974 cover of "Lucy in the Sky with Diamonds" (which also featured Lennon on backing vocals and guitar).

and Olsson backed John during his landmark concert in New York City's Central Park before more than 400,000 fans on the Great Lawn on 13 September 1980, and appeared on The Fox in 1981.

New musicians that joined the band around this time include Richie Zito, Tim Renwick, Fred Mandel, Charlie Morgan, David Paton, Helena Springs, Jody Linscott, Jonathan Moffett, and Guy Babylon.

[20] Two gigs in Dallas were postponed after John tested positive for COVID-19 and began experiencing mild symptoms from the disease.

On 2 December 2022 John announced the final leg of the UK tour would be headlining Glastonbury festival in 2023, saying "There is no more fitting way to say goodbye to my British fans".