The facility opened in 1964, costing a reported $1.5 million to build. In March 1965 the inaugural race was held at the track. Racing promoter Alec Ullman was set to move the 12 Hour Race in Sebring from Sebring International Raceway for the 1967 season to the facility, but those plans fell through. In November 1969 a controversial rock concert was held at the facility. During the rock festival artists such as Janis Joplin, The Rolling Stones, Sly & The Family Stone and Jefferson Airplane performed. In April 1971 the Grand American Series of Professional Drag Racing had one of the first major drag racing events held at the track. In 1979 famous sports car and Indy 500 racer Lyn St. James made her professional debut at the facility.
In 1981, Dick Moroso, founder of Moroso Racing Parts, purchased the track and renamed it "Moroso Motorsports Park". In 1982, Moroso spent $100,000 to upgrade the facility to host the opening event of the 1983 SCCA Trans Am Series. The facility hosted several SCCA national and regional events. The track was also host to several IHRA and NHRA special events and the "Super Chevy Show". In 1998, Moroso died from brain cancer and his family inherited ownership of the track. In 2002, MTV filmed a drag racing documentary at the track. The Speed Channel show Pinks visited the facility in 2007 to film an episode. The raceway featured quite prominently in Top Gear's 2007 USA Special.
In 2008, a group of local motorsports enthusiasts purchased Moroso Motorsports Park. The new owners closed the track, remodeled it into a state-of-the-art motorsports facility and changed the track's name back to "Palm Beach International Raceway." The track hosted an ARCA Remax Series event and several drag racing events. The facility again hosted the show "Pinks All Out" on March 6, 2010. The facility also hosted a wide variety of motorsports events, including "Mud Bog", the Palm Beach Driving Club (PBDC), Hooked on Driving (HOD), Bertil Roos Racing School, Florida Track Days (FTD), Florida Motorcycle Road Racing Association (FMRRA), and the Ferrari Cavallino Classic. Several IndyCar Series teams use the track for winter testing, as do several sports car teams from the Rolex Sports Car Series including locally based Orbit Racing, as well as Riviera Beach-based Extreme Speed Motorsports.
On Saturday, April 23, 2022 a "Last Lap" event was held to commemorate the closure of Palm Beach International Raceway. The event consisted of a car show, drag racing, a parade lap around the road course and a final run down the drag strip by the Larsen Jet Cars. The event was announced on Thursday, March 3, 2022 via a web site announcement.
The road course's length is 2.043 mi (3.288 km) and was designed by Martyn Thake with help from several other in-house designers. It is paved with 5-inch-deep (130 mm) asphalt on an aggregate base. The drag strip is an IHRA-sanctioned 1,000–1,320 ft (300–400 m) concrete course built to NHRA specifications.
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