Originally it was a Royal Australian Air Force (RAAF) base called RAAF Base Mallala.
The base was built in 1941 as the home of No. 6 Service Flying Training School (6SFTS) during World War II. The SFTS provided advanced training for RAAF pilots, including fighter and multi-engine aircraft.
Following the cessation of hostilities, RAAF Base Mallala was a temporary base for flight test and transport support for the joint UK-Australian Weapons Research Establishment at Woomera. When RAAF Base Edinburgh opened in 1954, operations at Mallala wound down until the base closed in May 1960.
In 1950, part of the Northern section of the base was converted for accomodation of the newly arrived European migrants. The camp was closed in 1960.
During 1959 CAMS informed that the Port Wakefield circuit would be unsuitable for the scheduled 1961 Australian Grand Prix. With new high standard motor racing circuits being built interstate it was decided to start with a new site closer to Adelaide.
The RAAF's 24 Squadron operational air base at Mallala was coming up for sale during 1962. After much persuading the sale was brought forward to April 1961. It was bought as an entirety, and then sub-divided into a 200-acre airfield, the rest of the farming property was sold off.
With the AGP planned for the October long weekend work commenced quickly. A Premier Race meeting to try the circuit and facilities out was enjoyed by 15,000 people and due to a packed program the last race was started at 6.15pm!! The 1961 Australian Grand prix was the first to have sponsorship to the value of 1000 pounds. Sixteen cars faced the starter for the 32-lap race. It was won by Lex Davidson
Mallala hosted many important championship races over the next 10 years including 1962 & 1964 Gold Star Championship, 1962 & 1968 Australian Tourist Trophy, and 1963 and 1965 Touring Car Championship. The track was shortened during 1964 from 2.1 miles to 1.6 miles and the pits were moved to outside the circuit.
During 1971 Mallala was bought and closed by Keith Williams (owner of Surfers Paradise International Raceway) and constructor of the new Adelaide International Raceway. Keith added a covenant to the Mallala circuit, preventing any motor sport activities on the property.
During 1977 Clem Smith purchased the property and after a Supreme Court decision the covenant was declared unenforceable. The track was used for Club Sprints and motorcross and mud plugging events on purpose built courses.
In 1982 Mallala was reopened to circuit racing with a CAMS B - class track license (no national championship races). With each event Clem poured the money back into the track slowly upgrading the facilities. The timing tower and commentary box were said to be the best in Australia, when constructed. These improvements paid off with the 1989 Shell Touring Car Championship returning to Mallala. Members of the Sprite Club of SA helped at the "wet" meeting as Spectator Marshals.
Other Championship events have included 2-litre Super Touring cars, Super Trucks, Super Bikes. These events have provided funding for resurfacing the track, lockable pit sheds, grassed spectator mounds and removal of the tyre wall replaced with concrete walls.
Although the "loss" of the V8 Supercars to the successful Clipsal 500 at the Adelaide Street Grand Prix Circuit, has reduced the number of major events at Mallala, the circuit is booked almost all year round with Club sprints, Go-kart and motorcycle race meetings, Historic race meetings, SA Police driver training, motor racing schools and "driving experiences".
The cache is located near a monument to the early history of the track.