The highway is named for Robert Campbell, a nineteenth century Hudson's Bay Company fur trader and explorer.

The first portion of the Robert Campbell Highway, between Watson Lake and Miner Junction, was built in the early 1960s as part of the project to complete road access to Tungsten, Northwest Territories.

During the late 1960s and continuing to 1971, highways were built to connect Carmacks with Ross River, with a spur road to Faro to serve the new lead-zinc mine that opened in 1969.

The Campbell Highway is mostly gravel, and the most improved section is between Carmacks and Faro, where it has the most traffic from trucks hauling ore to Whitehorse and beyond.

For travellers from the south whose destination is Dawson City, this route is some 20 miles shorter than going through Whitehorse.