The regiment was formed in November 1992 by the amalgamation of The Queen's Own Mercian Yeomanry and The Duke of Lancaster's Own Yeomanry as part of the Options for Change.

This incorporated the Mercian Eagle from the Queen's Own Mercian Yeomanry with the Red Rose from the Duke of Lancaster's Own Yeomanry.

This was also the point at which H-Det joined the regiment, to provide a Recce troop.

[2] In July 2013, it was announced that the RMLY would be restructured under the Army 2020 plan.

This is the order in which the various corps of the army parade, from right to left, with the unit at the extreme right being the most senior.