Its total length is approximately 96.8 miles (155.8 km).

In the 1930s, the section of highway between Cuba and Farmington was known as NM 55.

For a brief time in the early 1940s, the segment between Claunch and US 54 was designated NM 195.

In 1988, NM 14 was broken up into several routes to eliminate concurrent segments with other routes, and NM-55 assumed the former portion of NM 14 south of Tajique.

Currently it covers the entire length of the original route NM 15.