It is named for Col. Garnet Joseph Wolseley, the nineteenth-century army officer who played a significant role in crushing the Red River Rebellion in 1870.

Wolseley is bordered to the east by Union Station, to the southeast by Fort Rouge, to the south by River Heights, to the north by Notre Dame, and to the west by St. James.

He was succeeded by another Progressive Conservative, but in a 1972 by-election the riding was won by Izzy Asper, leader of the Manitoba Liberal Party and subsequently a prominent media baron in Canada.

In the 2003 election, Green Party leader Markus Buchart ran in this riding and finished second with almost 20% of the vote.

Wolseley also holds the distinction of having elected one of the few MLAs in Manitoba's history to be expelled from parliament: Robert Wilson, who was stripped of his seat in 1981 after being convicted of marijuana-related charges.