The college was established in 1923, as the Iola Junior College under the jurisdiction of the Board of Education of Iola Public Schools, District #10. The College was designed as an extension of the high school, primarily to serve the students within the district. 
It was located on the third floor of Iola High School. That first year saw an enrollment of 93 students, and the IJC men's basketball team won the state championship.

Iola Junior College served the community until June 1965, when the local Board of Education successfully petitioned the State Superintendent of Public Instruction to create a countywide community college. On July 1, 1965, Allen County Community Junior College came into being.
In 1980, the school officially shortened its name to Allen County Community College.

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The college now enrolls approximately 2,500 students each semester in the programs offered on the campuses in Iola and Burlingame, over Interactive Television, on the Internet, and at the outreach sites located within the six-county service area. ACCC will remain cognizant of the needs of its service area and responsive to those needs with new programs and services that can be implemented quickly, effectively, and efficiently.

Loans, grants and work-study programs are available according to need. Allen County Community College also provides scholarships for academic achievement and activity grants to students who demonstrate talent and ability in athletics, music, journalism, academic challenge team, cheerleading, livestock judging and Student Ambassador Program. 76% of full-time students at ACCC receive some type of financial aid.