[7][8] Fisheating Creek originally arose in a series of perennial marshes in Highlands County west of Lake Placid.

[3][9][10] Fisheating Creek flows through a landscape of prairies, both dry and wet, flatwoods, freshwater marshes, hammocks, bottomland forests, and floodplain swamps.

[12] Lake Okeechobee has been artificially maintained at a lower level than prevailed before the 20th century, with the result that much of Cowbone Marsh has been drained and converted to agricultural land.

[11] Preservation of the Fisheating Creek ecosystem is considered critical to the long-term welfare of Florida panthers, black bears, swallow-tailed kites, whooping cranes, sandhill cranes, crested caracaras and other species[4] The area around Fisheating Creek was occupied by people of the Belle Glade culture from as early as 1000 BCE.

[14] In 1842, a reconnaissance party of 83 sailors and marines (along with a Seminole guide and his wife and child) led by United States Navy Lieutenant John Rodgers traveled in 16 dugout canoes from Key Biscayne through the Everglades, across Lake Okeechobee and up both the Kissimmee River to Lake Tohopekaliga, and Fisheating Creek to the head of the open stream, before returning to Key Biscayne.

Lykes Brothers, Inc. acquired the land around Fisheating Creek early in the 20th century and used it as largely unimproved cattle range.

[5][14][20] Lykes Brothers began closing public access to its land along Fisheating Creek in the 1980s, apparently in response to increased vandalism and poaching.

In 1989 Lykes closed the waterside park, campground, and canoe concession, and erected fences and gates to block access to land formerly open to the public.

[5][14][20] In March 1989 residents of Glades County broke open a gate that Lykes Brothers had placed on an old road to block access to Fisheating Creek.

[5][14][20] As part of the settlement Florida paid $46.4 million to Lykes Brothers to purchase 18,272 acres (73.94 km2) along the stream, which became the Fisheating Creek Wildlife Management Area (WMA).

The settlement also calls on the state to maintain a navigation channel in Fisheating Creek from Lake Okeechobee to the U. S. Route 27 bridge at Palmdale.