Loreauville was initially called "Fausse Pointe", then "Dugasville" after the Dugas family, who opened a trading post at the site.

On April 15, 1871, the name was changed from Picouville to Loreauville for Ozaire Loreau, who had contributed the property for the old Catholic church and cemetery, and had also aided in the agricultural, industrial and political growth of the village.

Loreauville is located in northern Iberia Parish at 30°3′34″N 91°44′13″W / 30.05944°N 91.73694°W / 30.05944; -91.73694 (30.059388, -91.736830),[3] on the east side of Bayou Teche.

Boat building, in many shapes and forms, is an important cultural activity that has impacted the village of Loreauville.

From large shipyards such as Breaux's Bay Craft, Neuville Boat Works, and Breaux Brothers that build aluminum oceangoing work vessels to the traditional wood Cajun pirogue hand-crafted by local residents, boat building and the use of the local waterways such as Bayou Teche and Lake Dauterive have been an important activity for residents since the establishment of the village.

For many years, one of the first museums ("The Heritage Village") in southern Louisiana dedicated to the history of the Acadians and the Cajun culture was on Main Street near the present day Loreauville High School.

The "Heritage Village" was privately owned and funded by a local resident well versed in the history and culture of the Acadians.

Several period buildings were donated to the museum from local residents and moved to the site, including the original one-room schoolhouse that was used in Loreauville between 1900 and 1925.

As late as 1970 several brick foundations and remains of the original fire pits and kettles were visible on the banks of the bayou.

Alterations to the landscape in that area have rendered this and most other sites invisible to the naked eye, but archeological evidence (fired bricks, and other detritus) remains just beneath the surface.

The Loreauville branch of the Iberia Parish Public Library, now located on Broussard Road next to Loreauville Elementary School, replaced the old 1960's era Public Library located at Main Street and Breaux Street.

The main building has been renovated, expanded, and modernized over the years to accommodate a growing student population.