Elijah Craig owes its name to an 18th century pastor often referred to as the inventor of bourbon, as legend has it that he was the first to have charred the inside of his casks, by accident, although this is probably not really the case. The brand was first registered in 1960 by Commonwealth Distillers, who then sold it to Heaven Hill in 1976. The new owners decided to release a 12 year old whisky in 1986, immediately positioning the brand as a high-end bourbon at a time when most bourbons were bottled young. Elijah Craig is today produced at the Bernheim Distillery in Louisville, Kentucky. The distillery was opened in the 19th century by the Bernheim brothers and rebuilt in 1987 after United Distillers (the future Diageo) bought Schenley, who had owned it since the end of Prohibition. It was eventually sold to Heaven Hill in 1999 to replace their Bardstown distillery, which had been ravaged by fire in 1996.

Elijah Craig 12 Years Barrel Proof is a tri-annual edition. This edition was released in January 2020.