The circuit was designed in 1966 by Stuart Cosgrave on farmland near Naas, following the end of road racing at Dunboyne in County Meath. It opened in 1968 as a short circuit and was extended the following year with the addition of the National Loop. Through the 1970s and early 1980s it was the launchpad for a generation of Irish racing talent, including Derek Daly, David Kennedy, Tommy Byrne and Eddie Jordan, all of whom progressed to international careers.
Financial difficulties afflicted the circuit in subsequent years. Martin Birrane, a businessman and ten-times Le Mans driver, purchased Mondello Park in partnership with the Royal Irish Automobile Club in 1986, then acquired full ownership a year later when the scope of the required investment became apparent. Under Birrane's stewardship the facility was significantly upgraded. The International Circuit opened in 1998, extending the total race track length to 3.621 kilometres. FIA international certification followed in 2001 after further investment during 1999–2000, which also brought 24 race garages and 12 hospitality suites. Following Birrane's death in 2018, the circuit passed to his family.
The Leinster Trophy is one of Mondello's most historically significant events. Its winners include Ayrton Senna — then competing under the name Ayrton da Silva — who won in 1982. Other Formula One names to have taken the Leinster Trophy include John Watson, Mika Hakkinen and Takuma Sato. Eddie Jordan won the event during his driving career before founding the Jordan Grand Prix team.
The circuit has also hosted guest appearances and demonstration runs by high-profile figures. Damon Hill attended as a guest of honour during his time with Jordan Grand Prix. World Rally Champion Carlos Sainz appeared in his Toyota Corolla World Rallycar. In 1999, David Kennedy drove a Jordan Mugen-Honda 199 at Mondello, with the shakedown broadcast on RTÉ during a season in which Eddie Irvine challenged for the Formula One Drivers' Championship — a peak moment for Irish motorsport internationally.
The 2000s represented the circuit's most high-profile period for visiting series. British Touring Car Championship rounds were held at Mondello from 2001 to 2006. The British GT Championship visited from 2004 to 2006, and the British Superbike Championship from 2003 to 2007. Jonathan Rea took his first British Superbike Championship race victory in the final BSB round ever held at the circuit. Mondello also hosted a round of the FIA Sportscar Championship in 2001.
The facility occupies 110 acres. The main configuration measures 3.621 kilometres and includes the International Circuit section opened in 1998. A Reverse Circuit configuration has also been used for national and rallycross events. The circuit additionally features three kilometres of extreme off-road driving trails and a five-acre off-road activities centre.
Present-day events at Mondello include the Irish Car Championship, rallycross, kart racing and the Masters Superbike Championship. The Formula Vee Festival and Leinster Trophy remain the two flagship circuit racing events on the annual calendar. The circuit also hosts a drifting championship, with Mondello becoming part of the Drift Masters European Championship calendar from 2018, and a dedicated Japanese car show known as Jap-Fest. Track days for private cars and motorbikes are organised regularly.
A Museum of Motorsport on site holds significant cars from the history of the sport, among them a Jordan 194 and Jordan EJ14, examples from Lola Cars (reflecting Birrane's ownership of the marque), and machinery from Birrane's own racing career.
Mondello Park appears in several racing video games, including Need for Speed: Pro Street, CarX Drift Racing Online, GT Legends and TOCA Race Driver 3. For Assetto Corsa, third-party content includes a laser-scanned version of the present layout and a separate recreation of the circuit in its 1987 configuration.