It had been one of the Satara Jagirs,[2] which included Bhor, Aundh, Phaltan, Jath, Daphlapur and Akalkot.

The first wife, Sai Bai, of 17th century Maratha Emperor Shivaji, was from Phaltan.

Major HH Raja Bahadur Shrimant Malojirao Mudhojirao Nanasaheb Naik Nimbalkar IV was the last Ruler of Phaltan.

In 1901, the state enjoyed revenue estimated at £13,000- and paid a tribute to the British Raj of £640.

Phaltan acceded to the Dominion of India on 8 March 1948 and is currently a part of Maharashtra state.