Keeneland originated as a nonprofit racing–auction entity on 147 acres (0.59 km2) of farmland west of Lexington, which had been owned by Jack Keene, a driving force behind the building of the facility.

Most of the racing scenes of the 2003 movie Seabiscuit were shot at Keeneland, in part because of the track's "retro feel".

[17] Keeneland was designated a National Historic Landmark in 1986,[18] for its role in the growth of the horseracing sport and its revitalization in Lexington.

The Breeders' Cup Classic was won by Triple Crown winner American Pharoah by six and a half lengths.

Many horse industry personnel were skeptical of Keeneland as a suitable venue because the track and town were too small to host such a large event.

However it was a huge success and even had a Thoroughbred Daily News writer report "I was wrong...it was spectacular" and how he "couldn't be more impressed".

[26] The Keeneland Team travels to over 25 countries and invests in over $700,000 annually towards international market development to deliver the world's deepest buying bench.

Nine of the 14 highest ranked horses in the Kentucky Oaks were sold in sales through Keeneland.

The following stakes races have been run at Keeneland, some with changing names and sponsorships over the years.