It was built in the Sengoku period and is noted as the site of the death of Tokugawa Ieyasu's son Matsudaira Nobuyasu in 1579.

However, fearing that Udono was lukewarm towards the Takeda clan, Ieyasu soon replaced him with a fudai vassal, Nakane Masateru.

In October 1572, Takeda Shingen launched a massive invasion and overran Tōtōmi Province, capturing Futamata after a siege of one month.

Futamata Castle remained under the control of the Takeda clan after the battle, and after a siege over six months, finally surrendered to the Tokugawa at the end of 1575.

Nobunaga's successor, Toyotomi Hideyoshi ordered that the Tokugawa relocate to the Kantō region in 1590, and gave both Futamata and Hamamatsu's castles to his own general, Horio Yoshiharu.