Organized drag racing in New England predates the facility itself by more than a decade. In 1950, Boston-area enthusiasts founded the New England Timing Association (NETA), modeling its rules on those of the Southern California Timing Association (SCTA), and began hosting drag races at airports in Newington, New Hampshire; Beverly, Massachusetts; and Sanford, Maine. Three years later, five regional hot rod clubs merged to form the New England Hot Rod Council (NEHRC), which held its first official drag racing events in 1953 at Newington Airport — also known as Pease Air Force Base.
By 1955 the NEHRC was staging regularly scheduled events at Sanford, attracting racers from across New England and drawing large spectator crowds. The airport drew nationally recognized competitors including Don Garlits and Art Arfons. By the mid-1960s, however, it became clear that airports were unsuitable long-term venues: conflicts with pilots, inconsistent track surfaces, and the absence of permanent facilities repeatedly forced last-minute cancellations.
The NEHRC identified a large tract of land on the border of Epping and Brentwood, New Hampshire, as a permanent site. A group of shareholders purchased the land and completed construction in the late summer of 1966. New England Dragway officially opened on September 11, 1966.
The track was originally sanctioned by the American Hot Rod Association (AHRA) and also recognized by the NHRA for official record runs. New England Dragway hosted an annual round of the AHRA Grand American Series until that organization folded in the mid-1980s, at which point the NHRA became the track's sanctioning body, though without adding it to the national event schedule.
In 1992, seeking a national event slot, the track switched to the International Hot Rod Association (IHRA), which held its North American Nationals at Brentwood from 1992 through 2009. Sanctioning returned to the NHRA in 2010, and following facility upgrades, the NHRA added the New England Nationals to its national calendar in 2013.
New England Dragway has attracted prominent names throughout its history. In the late 1960s and 1970s, "Jungle Jim" Liberman was a frequent competitor, as were "TV" Tommy Ivo and Bruce Larson. On July 11, 1998, three-time World Champion dragster driver Shirley Muldowney became the first racer to exceed 300 mph at the track, posting 302.82 mph during match race competition.
On June 2, 2024, 16-time NHRA Funny Car champion John Force, aged 75, won his 157th NHRA Mission Foods Drag Racing Series national event at New England Dragway. Three weeks later, Force suffered a career-ending crash at Virginia Motorsports Park.
The 2020 New England Nationals were canceled due to the COVID-19 pandemic. The 2023 edition was canceled by weather, with its displaced rounds redistributed to Bristol Dragway ahead of that venue's Sunday program.
Beyond the national event weekend, New England Dragway runs bracket racing on weekends for local and regional amateur racers, plus street-legal vehicle nights twice weekly. Annual specialty events include programs for import cars and nostalgia drag racers, as well as recurring match-race spectacles featuring nitromethane and alcohol funny cars (Funny Cars Under The Stars) and jet-powered vehicles (Jet Cars Under The Stars).
Established in 2005 by the Orientals Hot Rod Club of Reading, Massachusetts, the New England Hot Rod Hall of Fame is a memorial at the entrance to New England Dragway's racing pits. The Hall recognizes individuals and organizations that have shaped hot rodding and drag racing in the New England region. By 2021, more than 100 honorees had been inducted, spanning drivers, teams, journalists, photographers, promoters, and business owners. Notable inductees include Chuck Etchells and Al Hofmann (professional funny car drivers from Connecticut), Arnie "Woo Woo" Ginsburg (a radio personality central to 1950s and 1960s hot rod culture), and Moroso Performance (aftermarket performance parts manufacturer).