In December 1998, a group of young[1] registered the Liberal Party (PL) in three regions of Chile, gathering more than 11,000 members.

The registration process was conducted by Pedro Correa, Patricio Rosende and Waldo Carrasco.

[2] In 1999 the Liberal Party, then headed by Adolfo Ballas, decided to support the presidential candidacy of Ricardo Lagos,[3] to which a dissident faction that formed the Democratic Liberal Movement, which supported the candidacy of Joaquín Lavín, then dissolve and integrate formed the National Renewal party.

In 2001 the Liberal Party signed its own list in parliamentary elections.

[6] Failing to 5% minimum, the party tried to save his life by a proposed merger with the Union of the Centrist Center (UCC) in March 2002, however, it did not have the unanimous support of the party, which did not materialize.