[4] Constructed in 1921 as Shields–Watkins Field (which is now the name of the playing surface), the stadium has undergone 16 expansion projects,[5] at one point reaching a capacity of 104,079 before being slightly reduced by alterations in the following decade.

Shields, president of Knoxville's City National Bank and a University of Tennessee trustee, provided the initial capital to prepare and equip an athletic field.

[10] Neyland, the man credited with making the Vols a national football power, coached the team from 1926 to 1952, with two interruptions for military service.

They included the bricking around the field and the removal of the previous hedges, numerous changes to the inside and outside of the stadium structure, additions and reconfigurations of seating areas, as well as new home locker, press, and varsity rooms.

In 2004, Sports Illustrated ranked Neyland Stadium, the University of Tennessee campus, and the surrounding Knoxville area, as the best college football weekend experience.

[16] Neyland Stadium has hosted several NFL exhibition games, most recently in 1995, when the Washington Redskins played the Houston Oilers.

[17] The Knox County Football Jamboree, a preseason event for local high school teams, was held annually at the stadium until 2013.

[18] The discontinuation of the Jamboree at Neyland Stadium was due in part to maintaining the condition of the field in the month prior to the beginning of college football.

[6] In 1948, the south end zone was enclosed in a "horseshoe" style (see Harvard Stadium for an example) with 15,000 seats, bringing total capacity to 46,290.

A 1997 seating adjustment to comply with the Americans with Disabilities Act of 1990 was followed by addition of the East Executive Suites, topping total capacity at 104,037 in 2000.

The plan called for the addition of club seats, widening of concourses, creation of entry plazas, and updates to the stadium's infrastructure.

[20] The estimated $200 million renovations, which will be carried out over a series of several phases, are to be funded entirely by private donations and revenue generated from priority and club seats.

[21] Phase II of the master plan, completed in 2008 at a cost of $27.4 million, involved the renovation and widening of the west lower concourse, renovations to the Peyton Manning Locker Complex and the concourse connecting it with Shields–Watkins Field, and the construction of the Lauricella Center for Letter Winners and the Stokely Family Media Room.

The Tennessee Terrace features 1,782 priority seats, with an adjacent climate-controlled concourse area, overlooking the west sideline.

[23] Phases IV and V will involve renovation of the south and east concourses and the creation of an entry plaza at Gate 10.

This was one of the many changes initiated by new head coach Doug Dickey, who also added the "T" logo to the football helmet and initiated the tradition of the team running onto the field through the "Power T" formed by the Pride of the Southland Band, and moved the Tennessee bench from the east side line to the west side line.

In 1968, coinciding with the addition of the East Upper Deck, Tennessee-Turf (TartanTurf-3M) was installed as the playing surface, in part to provide better drainage following heavy rains.

Since 2007, the entire surface gets re-sodded annually with Tifway Bermuda grass, which rests on a 12-inch bed of sand to enhance drainage.