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The Society was founded by Charles F. Martin in 1973 under the name "The Fraternal Order of Empire Builders", and it was dedicated to the preservation of everything related to the Great Northern Railway. In 1982 the Society name became "The Great Northern Railway Historical Society". With this name change the Society also became chartered under the not-for-profit laws of the State of Illinois, and acquired tax exempt status from the Federal government under the provisions of Section 501(c)(3) of the Internal Revenue Code. Under the original name of "The Fraternal Order of Empire Builders", journals containing facts, photographs, drawings and general information relating to the Great Northern Railway and its predecessor companies were published. With the revised name, The Great Northern Railway Historical Society (GNRHS) continues that tradition. Each quarterly issue of the GNRHS 'Goat' normally contains sixteen pages of general information and society affairs, new member lists, member sales and want items, and books/videos listings of subjects related to the GN and its pre/post merger corporate identities. Issues include 40 to 60 additional pages within separately stapled titles known as Reference Sheets. Each issue of the 'Goat' also contains a section of pages dedicated to GN modeling, the Modelers' Pages.

The Great Northern Railway (reporting mark GN) was an American Class I railroad. Running from Saint Paul, Minnesota, to Seattle, Washington, it was the creation of 19th-century railroad entrepreneur James J. Hill and was developed from the Saint Paul & Pacific Railroad. The Great Northern's (GN) route was the northernmost transcontinental railroad route in the U.S.

The Great Northern was the only privately funded – and successfully built – transcontinental railroad in U.S. history.No federal subsidies were used during its construction, unlike all other transcontinental railroads.

The Great Northern was built in stages, slowly to create profitable lines, before extending the road further into the undeveloped Western territories. In a series of the earliest public relations campaigns, contests were held to promote interest in the railroad and the ranch lands along its route. Fred J. Adams used promotional incentives such as feed and seed donations to farmers getting started along the line. Contests were all-inclusive, from largest farm animals to largest freight carload capacity and were promoted heavily to immigrants and newcomers from the East.

The earliest predecessor railroad to the GN was the St. Paul and Pacific Railroad, a bankrupt railroad with a small amount of track in the state of Minnesota. James Jerome Hill convinced John S. Kennedy (a New York banker), Norman Kittson (Hill's friend and a wealthy fur trader), Donald Smith (an executive with Canada's Hudson's Bay Company), George Stephen (Smith's cousin and president of the Bank of Montreal), and others to invest $5.5 million in purchasing the railroad. On March 13, 1878, the road's creditors formally signed an agreement transferring their bonds and control of the railroad to Hill's investment group. On September 18, 1889, Hill changed the name of the Minneapolis and St. Cloud Railway (a railroad which existed primarily on paper, but which held very extensive land grants throughout the Midwest and Pacific Northwest) to the Great Northern Railway. On February 1, 1890, he transferred ownership of the StPM&M, Montana Central Railway, and other rail systems he owned to the Great Northern.

The Great Northern had branches that ran north to the Canada–US border in Minnesota, North Dakota, and Montana. It also had branches that ran to Superior, Wisconsin, and Butte, Montana, connecting with the iron mining fields of Minnesota and copper mines of Montana. In 1898 Hill purchased control of large parts of the Messabe Range iron mining district in Minnesota, along with its rail lines. The Great Northern began large-scale shipment of ore to the steel mills of the Midwest. At its height, Great Northern operated over 8,000 miles.

The railroad’s best known engineer was John Frank Stevens, who served from 1889 to 1903. Stevens was acclaimed for his 1889 exploration of Marias Pass in Montana and determined its practicability for a railroad. Stevens was an efficient administrator with remarkable technical skills and imagination. He discovered Stevens Pass through the Cascade Mountains, set railroad construction standards in the Mesabi Range of northern Minnesota, and supervised construction of the Oregon Trunk Line. He then became the chief engineer of the Panama Canal.

On March 2nd, 1970 the Great Northern, together with the Northern Pacific Railway, the Chicago, Burlington and Quincy Railroad and the Spokane, Portland and Seattle Railway merged to form the Burlington Northern Railroad. The BN operated until 1996, when it merged with the Atchison, Topeka and Santa Fe Railway to form the Burlington Northern and Santa Fe Railway.