Founded in 1980 and currently located in Davenport, Florida, the organization is administered by the USA Water Ski Foundation.

Since the creation of the sport by Ralph Samuelson in 1922, water skiing has grown immensely, and USA-WSF works to document individuals and events which have significantly contributed to water skiing history.

The museum houses items of memorabilia, vintage skis and related equipment, classic photos, press clippings, and highlights from historic competitions and events.

The museum is currently housed at the Central Florida Visitors & Convention Bureau Welcome Center in Davenport.

The Water Ski Hall of Fame was established in 1982 to "honor and perpetuate the names and accomplishments of skiers, pioneers, and officials whose dedication and competitive achievements at National and International levels brought lasting fame to the sport of water skiing".