In 1927 the Muskeg Prairie district, which included what is now Wandering River was opened for homesteading and the area was quickly settled.

[4] Early settlers came from a multitude of different backgrounds, including Austrian, Ukrainian, Polish, American, and German immigrants as well as people from all across Canada.

[4] The first store in Wandering River was opened by the Coonan family in 1930, and hosted a general assortment of supplies including salt, flour, and groceries.

[5] 1932 saw the Wandering River Post Office opening as well as the construction of St. Elias Ukrainian Orthodox Church.

The area also has several amenities including a skating and curling rink, a public library, a community hall, a fire station, a water treatment plant, an RV camp, a senior's centre and a golf course.