Originally a small town, Vsetín has become an important centre of industrial, economic, cultural and sports life during the 20th century.

The village of Rokytnice lies on the Rokytenka River, which flows into the Vsetínská Bečva in the centre of the town.

The first written mention of Vsetín is from 1308, when it was owned by Knights Templar who rented it to Lord Vok of Kravaře.

Religious and economic oppression led to resistance and long-term rebellions of the serfs during the Thirty Years' War.

[4] During the Thirty Years' War, Vsetín extended from the original so-called Upper Town to the pastures spread out on the left bank of the Bečva river, where a manor mill already stood since the 15th century.

[4] In 1653, Vsetín became the property of a Hungarian noble family, the Counts of Illésházy, who owned it for almost 180 years and had the most profound impact on its development.

[4] In 1885, the town was linked to an inland railway system, followed by the construction of schools, a hospital, a power plant, water mains and other public facilities.

[4] During World War II, mainly due to military production, the number of inhabitants doubled, reaching 14,000.

Its members initiated collaboration with the Clay group connected with the exiled government in London and later with the 1st Czechoslovak Partisan Brigade of Jan Žižka which crossed the Moravian border at times of the Slovak National Uprising.

Vsetín was liberated on 4 May 1945 by forces of the 1st Czechoslovak Army led by General Karel Klapálek.

The town experienced a considerable shortage of flats, shops, school premises and medical centres.

[4] The problems connected with the growth of the town are reflected mainly in the area of the construction of housing estates and the school system.

The 1960 initiation of massive construction of panel housing estates in the outlying parts of the town only represented a partial solution to the problem.

[13] Other significant industrial companies are Austin Detonator (part of Austin Powder Company), one of the largest world manufacturers of detonators founded in 1953 in the premises of the former Zbrojovka factory,[14] and WOCO STV, manufacturer of parts for the automotive industry founded in 1956.

In the summer of 1949, Wallachian towns and municipalities organized an important local exhibition called Wallachia at Work.

Since 1999, that exhibition has been commemorated by organizing a week-long multi-genre festival called Valašské záření ("Wallachian Shining").

[4][17] The town is home to VHK Vsetín, throughout the 1990s the most successful ice hockey team in the country, winning the National League six times.

The Vsetín Castle with its high tower is the main landmark of the town and the oldest historical building.