Gerald Forsythe and Barry Green co-founded the team in 1993 as Forsythe Green Racing. In its first CART season, the team fielded Atlantic entries for Claude Bourbonnais and Jacques Villeneuve. Villeneuve moved to the full CART schedule in 1994, finishing second at the Indianapolis 500 and winning at Road America. In 1995, Green and Forsythe parted ways. Green retained the team, renamed it Team Green, and enlisted his brother Kim as team manager. That year Villeneuve won both the Indianapolis 500 and the CART championship, giving the fledgling outfit its breakthrough season.
Raul Boesel drove the team in 1996 under the Brahma Sports Team identity, followed by Parker Johnstone in 1997. The arrival of cigarette-brand sponsor KOOL in 1997 saw the team rebrand as Team KOOL Green and expand to two cars in 1998 with Dario Franchitti and Paul Tracy, a pairing that lasted five seasons.
During the years of the CART-IRL split, Team Green competed exclusively in CART but made targeted returns to the Indianapolis 500. Tracy and Franchitti competed for Team Green at Indy in 2002, with Tracy placing second in the most controversial finish in the race's modern history. Tracy appeared to pass Hélio Castroneves for the lead with less than two laps remaining, but race officials ruled the yellow flag had been displayed before the pass was completed. Team Green's protest and subsequent appeal were denied, and the result stood in Castroneves' favor.
In 2002, Michael Andretti — son of 1969 Indianapolis 500 winner Mario Andretti and a multiple CART race winner himself — purchased a stake in the team, which was renamed Andretti Green Racing. Following Barry Green's departure after the 2002 CART season, Andretti moved the team full-time to the IndyCar Series in 2003. The team rapidly became the dominant force in the series. Tony Kanaan won the 2004 IndyCar championship, Dan Wheldon added the title in 2005 and won the Indianapolis 500 that year, Dario Franchitti won the 2007 series championship and the Indianapolis 500, and Ryan Hunter-Reay claimed the 2012 IndyCar title.
Indianapolis 500 wins for the team include 1995 (Villeneuve), 2005 (Wheldon), 2007 (Franchitti), 2014 (Hunter-Reay), 2016 (Alexander Rossi), and 2017 (Takuma Sato). In 2006, Michael Andretti came out of retirement to qualify for the Indianapolis 500, racing alongside his son Marco; Marco finished second in the race, the closest finish since 1992.
Michael Andretti became sole owner in 2009 and rebranded the team Andretti Autosport. The team expanded into multiple series: Formula E from the inaugural 2014–15 season onward, the Australian Supercars Championship via a stake in Walkinshaw Andretti United from 2018, Extreme E, and lower American open-wheel ladders. Jake Dennis won the Formula E Drivers' Championship for the team in Season 9 (2022–23).
In September 2023, the team restructured in pursuit of a Formula One entry under the Andretti Global name, with Dan Towriss becoming a minority owner. In 2024, the Andretti family sold the organization to Mark Walter's TWG Global holding company, with Towriss remaining as co-owner and CEO. Following a partnership with General Motors and approval from the FIA, the team joined Formula One in 2026 as the Cadillac Formula One Team.
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