The party is not organizationally linked to the federal Liberal Party of Canada in any official manner.

After twenty years as a minor party, the Yukon Liberal Party won the 2000 general election and formed a government under Premier Pat Duncan.

Duncan called a snap election for November 2002 in the hope of regaining her government's majority.

Duncan won the Liberals' sole seat in the Yukon Party's landslide.

The Liberal Party remained in opposition until the 2016 general election where the party went from third place in the legislature to majority government with its leader, Sandy Silver, becoming Premier.