Vegas Pro features real-time multi-track video and audio editing on unlimited tracks, resolution-independent video sequencing, complex effects, compositing tools, 24-bit/192 kHz audio support, VST and DirectX plug-in effect support, and Dolby Digital surround sound mixing.

Although Vegas started as a non-linear multimedia audio editor, it has no MIDI capability at all (except control-desk and synchronization).

It is the only non-linear video editor that allows multiple instances of the application to be opened simultaneously.

Nesting is helpful in large, complex, or special effects projects, as the final rendering suffers no generation loss.

Vegas 1.0 was released after a brief public beta[4] by Sonic Foundry on 23 July 1999 at the NAMM Show in Nashville, Tennessee as an audio-only tool with a particular focus on re-scaling and resampling audio.

Vegas 3.0 was released the next year on 3 December,[14] and added new video effects, features for ease-of-use with DV, and support for editing Windows Media files.

Vegas 4.0 was released on 6 February 2003 and added application scripting, advanced color correction, 5.1 surround sound mixing, and Steinberg ASIO support.

This was the last release under the Sonic Foundry name after it sold much of its software suite, including Sound Forge and Acid Pro, to Sony Pictures Digital for $18 million later in 2003.

[15] Under Sony's ownership, Vegas 5.0 was released on 19 April 2004, bringing 3D track motion, compositing, reversing, envelope automation, etc.

[17] Vegas Pro 10 was released in 2010 with stereoscopic 3D editing, image stabilization, OpenFX plugin support, real-time audio event effects, and a few UI changes.

Released on 28 August 2017, Vegas Pro 15 features major UI changes that claim to bring usability improvements and customization.

Vegas Pro 15 includes support for Intel Quick Sync Video (QSV) and other technologies, as well as various other features.