[2] The town is in the area of Gippsland explored separately by the Scotsman, Angus McMillan, and the Polish aristocrat, Count Paul von Strzelecki, in 1840.

The earliest European inhabitant in the district is thought to have been a man named Blind Joe who lived in a hut on the Latrobe River and the first sale of 'town lots' in Rosedale, on 20 May 1855, took place there.

[3] The town is named after and built near the site of a station owned by David Parry-Okedon, who, in 1843, called his run Rosedale after his wife, Rosalie.

[citation needed] The first brick construction was the Rosedale Hotel in 1858, built by William Allen, who emigrated from London in 1854.

He was also responsible for the construction of the Mechanic's Institute, the original school house, the Exchange Hotel, the three churches and Nambrok Homestead.

[7] The Rosedale Railway Station was opened on 1 June 1877, as part of the Morwell to Sale line.

The area was once part of the Holey Plain grazing run, owned by the Curlewis brothers.

Thoroughbred horse racing was conducted at Rosedale for over a century, with the first-known event held on 13 April 1868.

[9] Patrobas, the three-year-old winner of the 1915 Caulfield Guineas, Victoria Derby and Melbourne Cup finished second in his first race at Rosedale.

In February 1973, the speedway attracted some of the best drivers throughout Australia to the inaugural Coca-Cola Bottlers 2000 meeting.

The race was won by the reigning Australian champion, David House, from Canberra, driving a Torana GTR XU1.

In 1980, Queensland driver, Arthur Wieden, won the first of four national Standard Sedan titles.