The society takes its name from the Swedish naturalist Carl Linnaeus, the 'father of taxonomy', who systematised biological classification through his binomial nomenclature.

[3]: 148 The inception of the society was the direct result of the purchase by Sir James Edward Smith of the specimen, book and correspondence collections of Carl Linnaeus.

When the collection was offered for sale by Linnaeus's heirs, Smith was urged to acquire it by Sir Joseph Banks, the eminent botanist and president of the Royal Society.

Five years after this purchase Banks gave Smith his full support in founding the Linnean Society, and became one of its first Honorary Members.

[3]: 50, 53 197–198 The first public exposition of the 'Theory of Evolution by Natural Selection', arguably the greatest single leap of progress made in biology, was presented to a meeting of the Linnean Society on 1 July 1858.

[3]: 95 [8] In 1904, the society elected its first female fellows, following a number of years of tireless campaigning by the botanist Marian Farquharson.

[3]: 88 [9] Also numbered in the first cohort of women to be elected in 1904 were: the paleobotanist, and later pioneer of family planning, Marie Stopes, the philanthropist Constance Sladen, founder of the Percy Sladen Memorial Trust and Alice Laura Embleton (1876–1960), biologist, zoologist and suffragist, who had been one of the earliest women to deliver a paper to the society on 4 Jun 1903.

This was highlighted by the inception in 2015 of an annual award, the John Spedan Lewis Medal, specifically honouring persons making significant and innovative contributions to conservation.

Three thousand of the most precious items from the library collections were packed up and evacuated to Oxford; the country house of librarian Warren Royal Dawson provided a refuge for the society's records.

[3]: 110 Fellowship is open to both professional scientists and to amateur naturalists who have shown active interest in natural history and allied disciplines.

[22] Other forms of membership exist: 'Associate' (or 'ALS'), for supporters of the society who do not wish to submit to the formal election process for fellowship, and 'Student Associate', for those registered as students at a place of tertiary education.

Meetings are venues for people of like interests to exchange information, talk about scientific and literary concerns, exhibit specimens, and listen to lectures.

The Linnean Society of London aims to promote the study of all aspects of the biological sciences, with particular emphasis on evolution, taxonomy, biodiversity, and sustainability.

[26] Other notable holdings of the society include the notebooks and journals of Alfred Russel Wallace and the paintings of plants and animals made by Francis Buchanan-Hamilton (1762–1829) in Nepal.

Over the following centuries the society published a number of different journals, some of which specialised in more specific subject areas, whilst earlier publications were discontinued.

It contains commentary on recent activities and events, articles on history and science, and occasional biographies/obituaries of people connected to the Linnean Society; it also includes book reviews, reference material and correspondence.