The Milbridge Historical Society was founded in 1989 and established its current museum location in 1996. Aside from the museum, the Main Street location sports both of the town's veterans' monuments.
The museum plays host to rotating exhibits and two permanent collections that are displayed at the facility. These cover shipbuilding and the history of fishing in the region. The annual rotating exhibits' content various and is largely based on donors lending material for the year-long period.