Athol's history has been shaped by the Millers River, one of its most valuable historic and scenic resources, since its earliest days. The area now comprising Athol was first inhabited by Native Americans who set up seasonal camps near the River's banks during the sixteenth century. The shores of the Millers River were also used as a major transportation corridor for indigenous people during this period. Later, once European settlement began in the 1730s, settlers quickly learned the benefits of harnessing the river's power for industrial purposes. Although Athol was founded as an agrarian community, the Town's limited agricultural productivity soon encouraged business development along the river.

The Town's first sawmill was established in 1736 and the first gristmill in 1737, and by the end of the eighteenth century, Athol had twelve mills along the Millers River and the Town's other waterways. The Millers River has continued to play a role in the Town's economy during the past two centuries. However, after rail service was introduced in the 1840s, changing the primary mode of transport for manufactured goods, and later, as other technological advances occurred, its industries' dependence on waterpower declined.

The Town's historic industrial and waterpower base played a tremendous role in shaping the Town's present downtown. Most of the current structures downtown were constructed during the Town's economic heyday of the late nineteenth and early twentieth centuries. Today, those historic structures, many of which are architecturally noteworthy, provide valuable insight into the Town's past. Outside of the downtown, there are a considerable number of historic and scenic resources as well, from historic farmsteads and farmhouses located on Moore Hill and Chestnut Hill, to homes and businesses near the Uptown Common, the Town's earliest transportaion and commercial center. The Town's historic resources also include properties and sites along the Athol History Trail, and its scenic resources include the viewsheds from the highlands overlooking the Millers River and from the Bearsden Forest peaks. Athol's unique history and strong industrial heritage, mixed with agricultural areas and protected forests, contribute to the Town's unique blend of historic and scenic assets.