The organization now known as the "Grayson County Historical Society" came into existence in 1961 as the "Grayson County Historical Committee." In 1965 it adopted its present name. It was originally composed of twenty citizens appointed, pursuant to State authorization, by then County Judge J. N. Dickson.

Since its inception it has conducted regular meetings and engaged in an active program focusing on preserving and stimulating interest in the history of the county. At its bi-monthly meetings presentations are made on a variety of aspects of the county's history and, more broadly, Texas history. The organization's other activities have included microfilming of early city directories, early census reports, early railroading activity in the county, and minutes of the Old Settlers Association of Grayson County. For the 1976 national Bicentennial project the Society prepared histories of county organizations, collected pictures, and gathered memorabilia for inclusion in the time capsule buried on the courthouse square.