It was created in 1964 to help preserve artifacts and information about San Antonio's transportation history.

TTM's goal is to provide an educational and entertaining experience which interprets how developments in transportation technology shaped and continue to impact daily life.

In 1967 the museum was granted use of approximately forty acres (16 ha) of what was then known as the Northeast Preserve, now McAllister Park, just north of the San Antonio International Airport on Wetmore Road.

The museum hosts three major events annually, an Easter egg hunt in April for Easter, "Spook-Track-Ula" in October for Halloween, and "Santa's Railroad Wonderland" in December for Christmas.

The Longhorn and Western Railroad is the Texas Transportation Museum's standard gauge heritage railroad that operates on its property with no connection to the general rail system.