It is named after a local bushranger, Frederick Ward, alias Captain Thunderbolt, who roamed these parts in the 19th century.

After passing Uralla the Mount Yarrowyck Nature Reserve is near the junction of the Armidale Road and Thunderbolts Way.

A new bridge constructed in 2015 crosses the Gwydir River shortly before reaching the Kingstown Road intersection and then the village of Bundarra.

It has been listed on the Register of the National Estate, being of state significance due to its design, historical value and aesthetic appearance.

Carving the 32 km (20 mi) route out of some of the steepest and most rugged countryside in the state was fraught with danger, but by 1961 it was complete.

[7] Carson's Lookout, which commemorates his work is between Gloucester and Nowendoc, is a stop off point for the enjoyment of panoramic views.

Under this act, Thunderbolts Way today retains its declaration as Main Road 73, from Inverell to Walcha.