F&P incorporated on February 25, 1890, as a 9.4-mile (15.1 km) line between Fordyce and Toan, Arkansas.

The railroad expanded, then downsized to a mere 1.14 miles (1.83 km) of switching track near Fordyce.

After the liquidation of Chicago, Rock Island and Pacific Railroad, F&P acquired the line between Fordyce and Crossett, via Banks, Craney, Hermitage, Ingalls, Vick, Broad, Emery, and Whitlow.

F&P was owned by Georgia Pacific from 1963 until March 2004, when it was sold to Genesee and Wyoming.

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