The track originated from a December 1967 permit filed by Sears Point Properties, Inc., a group of four Marin County businessmen, with plans for a road course as part of a larger resort complex called Sears Point Park. Groundbreaking for "Sears Point International Raceway" (SPIR) occurred on August 14, 1968, with paving completed by early October. The road course and drag strip opened in early 1969, with the drag strip inaugurated at an NHRA event on March 8 — the first feature event won by Don Garlits in the Top Fuel division. The road course formally opened March 28 for an SCCA event.
The facility barely survived its early years. The original investor group sold to film company Filmways in mid-1969, which quickly ran into losses of $300,000 within 14 months. By August 1970 SPIR closed, with a San Francisco newspaper describing the empty complex as nature "slowly taking over." Three years of abandonment followed before Hugh Harn and Parker Archer purchased the lease in January 1973 and reopened the facility.
After the Harn-Archer partnership became mired in conflicts with Sonoma County environmental agencies over water and sewage requirements, Bob Bondurant — operator of a driving school on site — purchased their lease in June 1974. Ongoing disputes with owner Filmways and financial instability persisted into the late 1970s. In 1979, Bondurant and partners formally purchased the facility from Filmways for $1.45 million through Black Mountain Inc.
A management dispute prompted Bondurant's resignation in March 1981. A Sonoma County court later ruled in favor of Filmways in a foreclosure action, and in June 1981 Jack Williams acquired the track for approximately $800,000, reverting the name to Sears Point International Raceway. Williams stabilized attendance and finances; by 1982 the facility was hosting crowds nearing 20,000 for major events. Williams was ousted in a buyout by real estate executive Skip Berg in April 1986, who oversaw significant renovations to attract the NASCAR Cup Series.
The elimination of the NASCAR Cup Series race at Riverside International Raceway after that track's closure in 1988 opened an opportunity for SPIR. Despite NASCAR president Bill France Jr.'s initial reservations about the facility's state, Berg undertook major upgrades and secured a Cup Series race. The inaugural NASCAR Cup event at Sears Point ran June 11, 1989, with Ricky Rudd winning before a crowd of 53,000. The race has been held at the circuit annually ever since (with the exception of 2020 due to the COVID-19 pandemic), currently known as the Toyota/Save Mart 350.
Speedway Motorsports, Inc. (SMI) and its owner Bruton Smith purchased the facility in November 1996 for $2 million (with an option for the wider 800-acre estate at $38 million). SMI undertook a multi-phase $50 million expansion project that was approved after protracted battles with local environmental groups. The project, completed by 2002, raised permanent grandstand capacity to approximately 70,000 seats, added underground pedestrian tunnels, expanded garage facilities, and established the Karting Center.
One of the distinctive features of the facility is its split configuration for different racing categories. The main road course uses all 12 turns including the Carousel (Turns 5 and 6). For NASCAR Cup races a shortened 1.990-mile layout bypasses the Carousel via a straight section called "the Chute," connecting Turn 4A directly to Turn 7A. The Chute was constructed in 1997-1998 partly because building permanent grandstands at the Carousel was impractical. It underwent further modifications in 1999 and again in 2001 to improve overtaking opportunities, with the final fourth turn configuration creating a 70-degree entry point followed by a lengthened straightaway.
In 2003 a dedicated AMA Superbike layout was constructed, creating a separate first-turn entry, an esses bypass with a 900-foot straightaway leading into a chicane, and a shortened Turn 11 hairpin to improve safety for motorcycle competition.
The IndyCar Series debuted at Sonoma Raceway in 2005 and raced there annually through 2018. From 2015 through 2018 the circuit hosted the IndyCar season finale. IndyCar's slot was subsequently moved to Laguna Seca. The NHRA has held the Sonoma Nationals at the drag strip annually since 1988. Sports car racing at the circuit included IMSA GT Championship events from 1976, American Le Mans Series rounds from 1999 through 2005, and ongoing GT World Challenge America rounds. The World Touring Car Championship also visited the facility in 2012 and 2013 for the FIA WTCC Race of the United States.
The circuit has passed through several names reflecting sponsorship and ownership changes. It opened as Sears Point International Raceway, was shortened to Sears Point Raceway in 1993, briefly rebranded as Golden Gate Raceway in 1980-81, was renamed Infineon Raceway after a 10-year $35 million naming rights deal with semiconductor firm Infineon Technologies signed in 2002, and was finally renamed Sonoma Raceway in December 2012 after Infineon declined to renew. The current general manager Brian Flynn took over in August 2023. A full track repave — the first in more than 20 years — was completed in February 2024.
The 1,600-acre complex is served by California State Routes 37 and 121 in Sonoma wine country. Permanent seating capacity stands at 44,000 as of 2022. In addition to road racing and drag racing, the facility operates the Karting Center and hosts club driving schools, vintage racing events, and various non-racing uses. The track also hosts the 24 Hours of Lemons endurance event and SCCA regional championships.