Built in 1958 and originally named RAMBI Raceway, Myrtle Beach Speedway was purchased by current owner Nick Lucas in 1968. In 1987 Billy Hardee became a co-owner establishing the current partner ownership.

In 1978 the dirt track was replaced with asphalt and a dog leg was added to the front strait to give the track its current .565 mile tri-oval configuration.

From 1950- 1970 early fans of stock car racing watched legends Richard Petty, David Pearson, Donny and Bobby Allison, and Ned Jarrett race in the Grand National Series ( forerunner of the current Winston Cup Series).

Over the years race fans have seen family racing become a tradition at Myrtle Beach Speedway. Three generations of Earnhardts have raced and won at Myrtle Beach with family patriarch Ralph Earnhardt taking the checker many times in the late fifties and in a career filled with championships Dale Earnhardt won the Late Model Sportsman Championship in 1978. More recently Kerry, Kelly, and Dale Earnhardt Jr. have raced at Myrtle Beach. Dale Earnhardt Jr. drove his first Busch Grand National Race at MBS in 1996.

Other racing families to work their way around the track at Myrtle Beach include David Pearson and sons Larry and Eddie. Mark, Jeff, and David Green have also turned a few laps at Myrtle Beach with David Green winning the Busch Grand National pole and race in 1996. Additional generation next drivers to race at Myrtle Beach Speedway include Adam Petty, Jamie Skinner, and Jason Jarrett.

The 1999 running of the BUSCH Grand National Myrtle Beach 250 brought the largest crowd ever to the Myrtle Beach Speedway and what may well have been the largest ever single event attendance to the city of Myrtle Beach. With famous names like Earnhardt, Petty, Bodine, Labonte, Jarrett and Hendrick it was clearly a day for generation next stock car racers at Myrtle Beach Speedway.