The track was established in 1966 with the aim of attracting young people to participate in motor sports, but was not actually completed until 1970. It currently accommodates 8500 spectators on the track, 3000 in the stands, 5000 on lawn seats, and 500 standing over the pits.
Tsukuba’s “Time Attack” event, also known as Super Lap or Tuner Battles, originated in Japan when tuning media organized events on circuits like Tsukuba as a proving ground for street-tuned cars. The event requires a rolling start, with drivers accelerating out of a warm-up lap to determine their timed lap. Commonly, competing cars are modified road-going models required to use tires authorized for road use, though slicks are now common in faster classes due to aerodynamic loads.
On 27 January 2023, Yoshiki 'Fire' Ando with the Escort Drag Racing Service Mitsubishi Lancer Evolution IX became the first driver to break through the 50-second barrier at Tsukuba. This was the first time that a tuner car with a production chassis had gone sub-50 seconds on street semi-slick tires. According to reporting by Speedhunters and The Narita Dogfight, Ando's record-setting lap time was 49.897 seconds.
Previously, HKS and Nobuteru Taniguchi had gone sub-50 seconds with a time of 49.445 seconds and a top speed of 238.253 km/h (148.044 mph) in the HKS Toyota 86 TRB-03 on slick tires. However, this was largely disputed as a traditional tuner car record since it was set on slick tires. HKS maintains a time of 50.259 seconds in the TRB-03 on traditional semi-slick street tires.
The outright all-time unofficial track record is 0:50.230 seconds, set by Kazuyoshi Hoshino in a March 792 Formula Two car during qualifying for the 1979 Tsukuba Champions race. The top 50 ranking for tuning cars on street tires was current as of 17 February 2024.
In 2001, the minibike course, previously called the "East Course," was renovated and opened as Course 1000 (TC1000), a safe course for cars and motorcycles with excellent visibility. The circuit also features a Gymkhana track, used for practice and competitions organized by JAF, and an Oval Course for training Auto Race drivers.
Tsukuba Circuit has appeared in numerous video games, including iRacing, Forza Motorsport (2, 3, and 4), Gran Turismo (4, PSP, 5, 6, 7 and Sport), Tourist Trophy, Enthusia Professional Racing, rFactor, and D1 Grand Prix. It is also commonly used for tuner events and featured in the final installment of the Shuto Kousoku Trial series, SKT Max. The circuit has gained popularity through its use by Best Motoring to test and race a variety of vehicles.