The earliest development of the local area occurred in 1867 with the founding of the nearby Laguna Seca Ranch, which has operated continuously for 140 years with grazing and equestrian uses.

[5] The track was built in 1957 at a cost of $1.5 million raised from local businesses and individuals on part of the US Army's Fort Ord (a maneuver area and field artillery target range) after the nearby Pebble Beach Road Races were abandoned for being too dangerous.

The day-to-day operations of the track, along with the management and promotion of major racing events, are now handled by A&D Narigi Consulting, LLC.

Until January 1, 2020, it was managed by the Sports Car Racing Association of the Monterey Peninsula (SCRAMP), which is a non-profit organization.

Also in 2006, the 'hump' at the top of the Rahal Straight was flattened to accommodate the MotoGP riders, though some claim that this increases the wind effects that can perturb a race motorcycle.

Turn 2, with its difficult and technical double-apex, has been renamed the 'Andretti Hairpin', in honor of former Formula 1 World Champion Mario Andretti, while Turn 9 has been renamed 'Rainey Curve' in honor of 500cc Grand Prix motorcycle racing World Champion Wayne Rainey, a resident of nearby Salinas, California.

A Champ Car World Series weekend had been a prominent event from 1983 through 2004, when its spot on the calendar was shifted to the San Jose Grand Prix.

Champ Car announced on September 11, 2007, that they would be returning the Northern California race to Laguna Seca from San Jose over the May 16–18 weekend in 2008.

There are many permanent dry and hook-up camping facilities located at the raceway, which are available year-round as part of the Laguna Seca Recreation Area, the county park in which the racetrack is set.

[11] The previous record time was 1:07.722, set by Hélio Castroneves in a Penske Champ Car during qualifying for the 2000 CART Honda Grand Prix of Monterey.

[13] At the 2008 Monterey Sports Car Championships, David Brabham set a pole position time of 1:10.103 in a Le Mans Prototype.

As of May 2024, the fastest official race lap records at Laguna Seca for different classes are listed as: When not being used by the major events the track can be rented.

[92] However, both he and the track instructor agreed that it is possible to complete the course in 1:41 in a Honda NSX if the driver were sufficiently experienced, talented, and most importantly fearless.

[93][94] On September 17, 1987, Pope John Paul II celebrated mass at Laguna Seca Raceway, where 72,000 people had gathered to see him.

Artists who performed at the festival include Bob Dylan, Phish, Blues Traveler, 10,000 Maniacs, Big Head Todd and the Monsters, Meat Puppets, 4 Non Blondes, Jeff Healey, The Allman Brothers Band, Gin Blossoms and Shawn Colvin.

In 1989, the year following the last Formula One race in Detroit, choices for a new location for the United States Grand Prix came down to Laguna Seca and Phoenix.

In the final decision, Laguna Seca was thought to be too remote and too small for an F1 crowd, and so Phoenix was granted the Grand Prix.