Founded in 1973, it is one of the oldest state affiliates in the Libertarian Party.

In 2002, Ed Thompson, brother of Tommy Thompson and the Mayor of Tomah, Wisconsin, ran for Governor of Wisconsin, garnering over 10% of the vote.

[citation needed] Wisconsin requires parties to poll at least 1% in a statewide election in order to be recognized for ballot status and to conduct party primaries.

The Libertarian Party of Wisconsin met this test in 2014 with the candidacies of Madison attorney Tom Nelson for Attorney General (3%), Milwaukee political consultant Andy Craig for secretary of state (3%), and former Mayor Jerry Shidell of Rhinelander for state treasurer (2%).

[3] In 2022, the sitting state chair of the Libertarian Party of Wisconsin, Jacob VandenPlas, ran for Congress (U.S. House of Representatives, WI District 8) and received 10.5% of the vote in a 3-way race, a state of Wisconsin record.