[1] The village has its origins in 1785, when Sir Thomas Tyrwhitt, then secretary to the Prince of Wales, leased a large area of moorland from the Duchy of Cornwall estate, hoping to convert it into good farmland.

With the closing of the prison in 1816, the town almost collapsed, but the completion of the Princetown Railway in 1823 brought back many people to the granite quarries.

It has since been considerably extended[4] and although other Victorian era prisons are to remain in service,[5] Dartmoor was scheduled to close in 2023,[6] but an extension lease has now been signed to keep it open beyond that date.

It was extended during the 1970s and remained in use until closure in 2001, largely because very few prison officers lived in Princetown by that date, but commuted in from Plymouth or Tavistock in the main.

The bowling green and pavilion were built around the turn of the century and visiting teams of prison staff played matches on many occasions.

Tor Royal Lane is a dead end road which leads down from the village to the site of the disused Whiteworks tin mine, about 2 miles or 3 km to the south-east, which overlooks Fox Tor Mires, the presumed site of the Grimpen Mire to be found in Arthur Conan Doyle's tale The Hound of the Baskervilles.

Conan Doyle stayed at the former Duchy Hotel whilst writing and researching the story with his friend, Bertram Fletcher Robinson.

The cemetery around the Church of St Michael and All Angels includes the graves of convicts who died during their incarceration in the prison.

It was taken out of use due to structural problems and damp and is now maintained by the Churches Conservation Trust, although the building has been stabilised and made safe.

[17] The village is overlooked from the north-west by North Hessary Tor upon which is a tall transmitting mast that provides a useful guide point for walkers from miles around.

Most people living in Princetown commute to work in Plymouth or Tavistock, but with the expansion of the brewery a few more jobs have been created locally.

The population is projected to keep increasing in the future[21] mainly due to the improved amenities within the village itself and the relatively high percentage of young people living there.

In terms of tourism, Princetown is a popular destination and hub for people traversing the moors, and the sight of large groups of hikers, walkers and cyclists is especially common during the summer months.

The Dartmoor Ultra Marathon takes place annually,[23] as does the charity Tour de Moor cycle race.