[citation needed] Lees–McRae College was founded in Banner Elk as an all-female high school in 1899 by the Reverend Edgar Tufts, a Presbyterian minister.

[citation needed] An all-male branch was founded in 1907 in nearby Plumtree, North Carolina.

The Plumtree facility was destroyed in a 1927 fire, leading the two campuses to merge at the Banner Elk site.

[citation needed] Lees–McRae began moving toward offering a four-year program in the late 1980s, and the school's president made the recommendation to the board of trustees in 1987.

The college is also home to a cycling team, which competes in Division I and holds national championships.