The first show was in January 1822, in the Old Market Place, just in front of the present State Parliament House.

[1] In 1903, the Royal Agricultural Society of Tasmania purchased the 40 acres (160,000 m2) of bushland then known as the "Elwick Knoll" at a cost of £2525.

[1] A $4 million redevelopment of the Showgrounds took place in 1980 and provided Pacing and Greyhound Racing facilities, an upgraded arena suitable for a variety of events, and the enclosed Grandstand and Amenities building which includes bars, restaurants, betting hall, meeting rooms and offices.

[2][3][4] In April 2012 the RAST (Royal Agricultural Society of Tasmania) board of management announced plans to redevelop large sections of the showgrounds, including parcelling out sections for commercial use and the demolition of the current Poultry, Dog, Cat and other exhibition pavilions to be replaced with just two pavilions for companion animals and livestock during the show.

In recent years the showground has hosted the Royal Hobart Fine Food Awards and the Tasmanian Vineyard of the Year Competitions, [1] as well as attracting music events like the Southern Roots Festival in 2007 and the Eskimo Joe live show in 2006.