First settled in the 1630's as agricultural land, the town has gone through several name changes even after its incorporation as a town in 1881. The present name is in honor of Wellesley College, one of the most prestigious women's colleges in the nation. The college, located within the town has an enrollment of 2300 students was founded in 1870.

The Town of Wellesley was chosen as "One of Americas loveliest suburban communities", an award that recognizes the natural beauty, cultural events, museums, theaters, educational facilities and historical sites that are easily accessible to this charming New England college town. In addition to its most famous higher education institution, Wellesley College, the town is also host to Babson College and Massachusetts Bay Community College.

Besides its close proximity to Boston, Wellesley benefits from its own local business and commercial activity. The town is a significant employment center, with several large office parks located primarily on its eastern border. For those who must commute outside the town, there is an abundance of highway access. Routes 9, 16 and 135 cross through town, as does Interstate 95, a major corridor for high-tech companies. Additionally, Massachusetts Turnpike Route 90 is accessible close by. There is direct access to the MBTA commuter rail at three access points in Wellesley.

Among the cultural assets of the town are its public library, a fine arts museum on the Wellesley College campus and two outdoor gardens. The library sponsors many events throughout the year for people of all ages including story times for children, book discussions for children and adults, lectures and musical events. The Massachusetts Horticultural Society is based at Elm Bank Horticulture Center, a 36-acre horticulture and education center. The facility is a hub of horticultural activity and information: from classes and lectures to gardens and greenhouses, a plant clinic, a horticulture education center, and events and meeting space. The Walter Hunnewell Arboretum is a 22 acre arboretum, containing over 500 species of woody plants, as well as a 100-year-old topiary garden.