The name "Tarkio" is derived from the Meskwaki language meaning "place where walnuts grow".

[3] One of the community's most famous landmarks was the Tarkio Mule Barn, an octagonal brick structure built in the early 1890s.

[7] Rankin Hall and the Walnut Inn are listed on the National Register of Historic Places.

[8] According to the United States Census Bureau, the city has a total area of 1.39 square miles (3.60 km2), all land.

Starting in 2012 the Alumni Association rented the Campus' Main building, Rankin Hall, and in September 2019, Tarkio College Inc. was issued a Certificate of Operation from the Missouri Department of Higher Education.

Operating as Tarkio Technology Institute, TTI offers technical certification courses for professionals in Plumbing, Wind Energy, and Welding.

He obtained a bachelor of science degree at the college, went on to teach at Harvard University, and is considered the "father of man-made polymers."

[16] Another alumnus of Tarkio College was anthropologist Edgar Lee Hewett (1865–1946), remembered for his role in bringing about the Antiquities Act that enabled preservation of archaeological sites as United States national monuments.

[18] David Rankin (1825–1910), the so-called "Missouri Corn King", was a resident of Tarkio.

Starting with a single ox and plow, Rankin enlarged his farm to over 25,000 acres (101 km2) of land, 12,000 head of cattle, and 25,000 hogs in Northwest Missouri.

By using the latest tools and technology, Rankin was able to raise a crop of 1,000,000 bushels of corn in a single year.