The track opened in 1953 as a half-mile dirt oval, a configuration it retains to this day. Within two years it attracted top-level national competition, hosting its first NASCAR Cup Series race in 1955. The track returned to the Cup schedule from 1966 to 1968, hosting four races total. Richard Petty won two of those events; David Pearson and Junior Johnson each claimed one of the remaining two victories.
From 1957 until 1968, the track's infield featured a one-eighth-mile drag strip that ran down the center of the oval. The strip gained notoriety as the debut venue for Shirley Muldowney, who would go on to become one of drag racing's most celebrated pioneers. Muldowney described the strip vividly: conditions were so rough that cars would catch air where the strip met the dirt oval surface, with all four wheels leaving the ground.
Following the NASCAR Cup era, Fonda became a weekly Modified powerhouse in the Northeast. The track held an International Motor Contest Association class between 2000 and 2009 before switching to a United Midwestern Promoters Modified class for a single season in 2010. Brett Deyo took over as track promoter beginning in 2019.
Fonda hosts Saturday night events that have traditionally anchored the Modified division as the headlining class. As of 2021, the weekly program includes Modified, Sportsman, Limited Sportsman, Pro Stock, and 4 Cylinder classes, providing competitive ladders across multiple levels of car preparation and budget.
The Fonda 200 stands as the track's signature event and one of the most prestigious Modified races in the northeastern United States. The race draws top-level talent from across the region each year.
Brett Hearn holds the record for most Fonda 200 victories, having won the race four times during a career that produced more than 900 overall wins across numerous tracks. Hearn is widely regarded as one of the greatest Modified drivers in the history of northeastern stock car racing.
Stewart Friesen emerged as one of the modern era's most accomplished Fonda competitors, claiming the track Modified championship in four consecutive years from 2012 through 2015. Friesen subsequently advanced to NASCAR national series competition.
Shirley Muldowney, who debuted on the infield drag strip, went on to become a three-time NHRA Top Fuel champion and a trailblazer for women in professional motorsport.
Fonda Speedway's unbroken run of competition since 1953 makes it one of the longer-operating short tracks in the Northeast. Its status as a venue that bridged the early NASCAR Cup era and the weekly Modified tradition gives it a distinctive place in American short-track history. The track's combination of NASCAR Cup heritage, the Fonda 200 prestige race, and its role in launching careers from Shirley Muldowney to Stewart Friesen reflects a depth that extends beyond its half-mile dirt surface.