Porsche announced the creation of the series in September 2020, consolidating and replacing both the IMSA GT3 Cup Challenge USA and the IMSA GT3 Cup Challenge Canada. The new series was launched in partnership with IMSA and Michelin, the latter becoming the exclusive tyre provider from the outset.
The inaugural 2021 class structure comprised three categories: the open Pro class for professional drivers; a Pro-Am class designated for drivers aged 45 and older; and the Pro-Am 991 class, created to accommodate competitors still racing the older 991.2-specification Porsche 911 GT3 Cup cars. The series' first race at Sebring International Raceway also served as the worldwide customer racing debut of the new 992-specification Porsche 911 GT3 Cup car — and by October 2020, five months before the first race, Porsche had sold out its entire North American allocation of the new car.
Sebastian Priaulx won the inaugural race at Sebring and went on to claim the series' first overall championship title.
The series received title sponsorship from the Cayman Islands Department of Tourism for its first two seasons, 2021 and 2022, which came with an expanded prize package including travel to a five-star resort in the Cayman Islands. The class structure was revised for 2022, with the Pro-Am 991 category dropped and replaced by an Am class for drivers over the age of 57. Parker Thompson of JDX Racing claimed the 2022 overall title.
In 2023, Deluxe Corporation took over as title sponsor. That season also marked an expansion of the series' presence beyond the IMSA calendar: rounds were added supporting two Formula 1 Grands Prix at Miami and Circuit of the Americas, as well as a NASCAR Xfinity Series event at Road America. Riley Dickinson secured the overall 2023 championship with four rounds still remaining.
For 2024, the series dropped Long Beach and Laguna Seca from the calendar, replacing them with a return to Road Atlanta and a new round supporting the Canadian Grand Prix at Circuit Gilles Villeneuve. Yokohama replaced Michelin as the exclusive tyre supplier. The same year saw the introduction of the ANDIAL Cup, an in-season championship specifically for rounds supporting IMSA-sanctioned events. The ANDIAL Cup was designed to incentivize entries beyond the standard 40-car limit when the series ran alongside IMSA events.
The series has raced at a variety of North American permanent circuits and street venues, including Sebring International Raceway, Road America, Road Atlanta, Watkins Glen International, Indianapolis Motor Speedway, and Circuit of the Americas, as well as temporary street circuits at Long Beach, Toronto, and Miami. Circuit Gilles Villeneuve in Montreal joined the calendar in 2024.
Porsche Carrera Cup North America functions as a premier single-marque development pathway in North American motorsport, bridging club-level Porsche competition and professional GT racing. Its support of Formula 1 events from 2023 onwards significantly raised its profile, giving its competitors and the series access to some of the highest-attended motorsport weekends on the continent.