The private cemetery was established in 1849 with the initial purchase of 5 acres (2.0 ha) of land fronting on Palmer Road.

The cemetery was enlarged in 1886, 1939, and 1952, with the 1939 purchase including the section facing Jones Road that now serves as its main entrance.

Its Colonial Revival chapel was built in 1935 with funding by a bequest of Elizabeth G. Parke.

The cemetery is the burying ground for many of Falmouth's most important citizens, including most of its veterans (including those from the American Revolutionary War and the War of 1812 which were relocated from family cemeteries), and ship captains who were the town's leading citizens in the 19th century.

One of its most famous burials is that of Katharine Lee Bates, author of "America The Beautiful".