Honors in several categories are presented at the ceremony annually by the Tony Award Productions, a joint venture of The Broadway League and the American Theatre Wing, to "honor the best performances and stage productions of the previous year.

It was first presented to David Wayne at the 1st Tony Awards for his portrayal of Og in Finian's Rainbow.

[3] Following the first ceremony, this category was not awarded until 1950 when it was renamed to Best Performance by an Actor in a Featured or Supporting Role in a Musical.

Hinton Battle holds the record for having the most wins in this category, with a total of three.

No characters have taken the award multiple times, but Herbie in Gypsy and Herr Schultz in Cabaret are the most nominated, with four each.