The college began its life using borrowed facilities from the local school and cricket club before Fife County Council Education Committee acquired some land and erected a Nissen hut. This was followed by the purchase of the adjacent property of Elmwood House, Gardens and Greenhouses in 1953 for the sum of £2,300.

In 1956 the first Day Release classes in Scotland for Agricultural and Horticultural Apprentices commenced at Elmwood Agricultural Centre. The college continued to expand during the early 1960's culminating in the construction of a new building with the foundations being laid in 1968 and the engineering block and horticultural department completed in 1971. The college then purchased Stratheden Hospital Farm in 1971. The college was officially opened in 1972 by Sir Hector Munro.

Construction of Elmwood's Golf Course began in 1995 with special attention being given to both the quality of the course and consideration of the local environment. Elmwood worked closely with top level golfers, greenkeeping experts and specialists in conservation management to ensure that both golfers and wildlife alike appreciate and approve of the result.

Over the years, the college's portfolio of courses has changed, catering for the educational needs of the local community with the newest additions being the Charlie Taylor Academy of Hair and Beauty, the Equine Centre and the Fitness Suite in September 2001.