[1] Pastoral runs were established in the area in the 1840s but population was small until the 1870s, the Post Office opening on 1 May 1874 as Upper King River and being renamed Whitfield in 1889.

Tragedy struck the township when the only general store in town (which had recently been taken over by new owners) was destroyed in a fire early in 2013.

Local places of interest include Paradise Falls, Mount Cobbler, Power's Lookout, Lake William Hovell and Wabonga Plateau.

Waterfalls, mountain streams, wildflowers and views of the Alps are features of the Wabonga Plateau-Mount Cobbler area of the Alpine National Park.

[citation needed] Mount Cobbler and the Wabonga Plateau area of the Alpine National Park are often approached from Whitfield.

In 2023, the Rural City of Wangaratta constructed an adventure playground and visitor hub, including new toilets and footpaths, in the town.

Winters are cool to cold, damp and rainy with occasional snow, while summer is warm and sunny interspersed with periods of cooler weather.