In the early 19th century (circa 1833-1843) a cow man named B. Hooker built a homestead on the crest of a ridge above the Suwannee River. Archeological findings suggest the land along both sides of the river supported human settlements during prehistoric times. Late in the 19th century the Old Godwin Bridge was built to span the river for both residential and commercial transportation. Floods swept the bridge away, but the pilings remain. From about 1910 until 1930 the Downing & Tuppins Turpentine Camp was the site of an African American community.

In the 1980s the State of Florida and the Suwannee River Water Management District purchased these lands with the intention of protecting the headwaters of the Suwannee River as it spilled out of the Okefenokee Swamp, as well as permanently protecting Big Shoals as the largest whitewater area in Florida. The land preserve also is intended to protect unique vistas and upland areas, historic sites along the Suwannee River, and the river floodplain.

Recreational opportunities associated with the Suwannee River, especially Big and Little Shoals rapids, have traditionally drawn many visitors to the area.