[4] Developed in the early 1900s, the town grew with the help of an oil and gas field, but has always had a low population.

[5] According to the Encyclopedia of Oklahoma History and Culture the present community was named for a Creek allottee, Hattie Yargee.

[5] An oil and gas field opened in the town in 1917 and helped support the railroad industry in the 1920s.

[5] As the Yeager field developed during the 1920s, the railroad's revenue dramatically increased by transporting lumber, rig timber, and oil-field equipment to the community.

In 1918 R. L. Polk's Oklahoma State Gazetteer and Business Directory estimated Yeager's population at 350.

After a fire destroyed the school building on January 18, 1957, voters approved a bond issue to rebuild the facility.

[6] According to the United States Census Bureau, the town has a total area of 0.2 square miles (0.52 km2), all land.