Valhalla was officially opened on December 6, 1956, by Gothenburg's municipal commissioner Torsten Henriksson.

Upon completion at 67,000 m3, Valhalla was the biggest and most modern swimming facility in Sweden.

In May 2023, the Gothenburg city council approved the demolition of the Valhalla Swimming Hall in order to make room for the reconstruction of Scandinavium.

During the 2005 Swedish Short Course Championships Anna-Karin Kammerling broke the world record on 50 meter butterfly with the time 25.33 seconds.

Valhallabadet was the swimming venue for the XIII FINA World Masters Championships in the summer of 2010.