The Mikuni Kaidō connecting Takasaki with Niigata from the Heian period onwards passed through area of present-day Minakami, with nine post stations.

On April 1, 1889 with the creation of the modern municipalities system after the Meiji Restoration, Minakami village was established within Tone District, Gunma.

Minakami has a mayor-council form of government with a directly elected mayor and a unicameral town council of 18 members.

In terms of national politics, the town is part of Gunma 1st district of the lower house of the Diet of Japan.

The economy of Minakami is heavily dependent on seasonal tourism to ski resorts and to onsen hot springs.