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Lancaster Bible College was founded by Henry J. Heydt in September 1933, as Lancaster School of the Bible. Eight students were enrolled in the original class which met in the Convention Hall at West Orange and Pine Streets in Lancaster. In 1934, 1939, and 1941, the school relocated several times. However, on May 2, 1957, Mr. and Mrs. J. Martin Esbenshade presented the school with an eighteen acre tract of land, which, after extensive renovations of the buildings, became the new campus in Manheim Township, Lancaster County, Pennsylvania. Residence halls were constructed in the 1960s, an auditorium/gymnasium and dining hall in the 1970s, and by 1994 significant additional acreage was acquired. The current campus encompasses approximately one hundred acres.

The abbreviated timeline that follows chronicles God's faithfulness in growing the ministry of Lancaster Bible College.

September 1933 Eight students were in the first class.
December 1939 Degree of incorporation was granted by the Court of Common Pleas.
September 1944 The Corporation resolved that the name of the school should be Lancaster School of the Bible and School of Theology.
July 1962 The name was changed to Lancaster School of the Bible.
November 1964 The college was approved as an accredited member of the Association for Biblical Higher Education (ABHE), then known as the Accrediting Association of Bible Colleges.
May 1973 Upon provisional approval to grant degrees from the Commonwealth of Pennsylvania's Department of Education, the official designation became Lancaster Bible College.
January 1981 Pennsylvania Department of Education (PDE) granted permanent approval to Lancaster Bible College to award the Bachelor of Science in Bible degree.
November 1982 PDE approved a two-year program for offering the Associate of Science in Bible degree.
December 1982 Middle States Commission on Higher Education (MSCHE) granted accreditation to LBC.
May 1991 Elementary Education program received certification by PDE.
December 1993 Graduates of the Elementary Education program were approved to receive the Bachelor of Science in Education degree.
August 1994 Graduate School launched with PDE approval to award the Master of Arts in Bible and the Master of Arts in Ministry degrees. First classes were held January 1995.
June 1997 Comprehensive self-study and reaffirmation by ABHE and MSCHE.
April 2000 Two additional graduate degrees, the Master of Arts with programs in counseling, and the Master of Education with programs in school counseling were approved.
September 2001 Good Shepherd Chapel was dedicated.
November 2001 Health & Physical Education program received state certification. Graduates of these programs receive dual certification from PDE and ACSI.
November 2003 Peterson Hall completed and occupied.
February 2005 MEd Consulting Resource Teacher program was added. Certification from PDE was approved in Elementary School Counseling, Secondary School Counseling, Reading Specialist and Music Education.
February 2007 MSCHE & ABHE approved the offering of the Bachelor of Science in Bible degree completely online through the degree completion program.
June 2007 Comprehensive self-study and reaffirmation by ABHE and MSCHE.
September 2007 The first two, combined bachelor's/master's programs were offered in professional counseling.
October 2007 Esbenshade Hall, formerly a residence hall, was renovated and repurposed as Esbenshade Enrollment Management Center.
March 2009 MSCHE & ABHE approved the offering of the Concentrated Bible Course Certificate completely online.
May 2009 Mental Health Counseling and Marriage & Family Counseling programs were approved to be offered as bachelor's/master's programs.
August 2010 Membership in NCAA Division III approved.
December 2010 LBC received approval from PDE to grant its first doctoral degree, the Doctor of Philosophy in Leadership.
March 2011 Communication was added as an undergraduate major.
September 2011 Married student apartments constructed in 1967 were renovated into Weber Hall.
June 2012 The Commonwealth of Pennsylvania enacted legislation eliminating program approval requirements for some institutions, enabling LBC to add new degree programs at any level.
August 2012 Teague Learning Commons was dedicated, a 40,000 square foot facility housing the Charles and Gloria Jones Library and an array of learning support services.
August 2012 Partnership launched with Philadelphia Center for Urban Theological Studies
January 2013 LBC acquired the academic programs of Capital Bible Seminary and absorbed the students of Washington Bible College, opening a site in Greenbelt, MD.
April 2013 The Trust Performing Arts Center was opened in downtown Lancaster.
August 2013 LBC partnered with OneLife, a gap year program, to offer our one year certificate within the parameters of their on-campus model.
September 2013 Partnership launched with Memphis Center for Urban Theological Studies.
February 2014 ABHE granted approval for PhD Biblical Studies and an additional location in Greenbelt, MD.
September 2014 Business Administration was added as an undergraduate major.
January 2015 Partnership formalized with Compassion International and Pastors Discipleship Network in Uganda.
August 2015 A new Residence Hall was completed mirroring Peterson Hall, constructed in 2003.
March 2016 The Charles Frey Academic Center was completed, a 49,475 square foot academic hub serving as the nerve center for our online efforts, housing six of our seven core academic departments, and providing additional technology and learning space for our undergraduate, masters, and doctoral students.
Fall 2017 Reaffirmation of accreditation by MSCHE
Spring 2018 Reaffirmation of accreditation by ABHE

Dr. Thomas L. Kiedis has been the president of Lancaster Bible College since 2020. Former presidents include Dr. Peter W. Teague (1999-2020), Dr. Gilbert A. Peterson (1979-1999), Dr. Stuart E. Lease (1961-1979), Dr. William J. Randolph (1953-1961), and Dr. Henry J. Heydt (1933-1953).