On 16 October 1920, Tallinn Technical University nine engineering students created Korp!

Leola remained in Tallinn and worked on restoring technical higher education to the city.

Leola went inactive under the Soviet occupation in 1940 when student organizations were banned and their assets were confiscated.

[1] Some of the fraternity's members continued to meet in exile in Canada, Sweden, and the United States.

[3] Thirty of its alumni living abroad re-established the fraternity in Estonia on 20 February 1989.

Leola and other member of the League of Estonian Corporations started the tradition of publicly celebrating The Day of Resistance in 2009.

Leola was named for Leona, the fortress of the 13th century military leader Lembitu.