In 1650 John Parker established the first permanent homestead on the Island of Georgetown.  He bought the island (then called Rascohegan) from a local Indian named "Robinhood".  At that point the island became known as Parker's Georgetown Island.  Georgetown or Georgetown-on-Arrowsic was the name given to a large area surrounding the island that included Woolwich, Phippsburg, Arrowsic and Bath and was incorporated in 1716.  But by 1841 each of these communities had incorporated, leaving Georgetown in sole possession of the name.

Georgetown is home to Reid State Park, Josephine Newman Sanctuary (managed by the Maine Audubon Society), and Ledgemere Nature Preserve (managed by the Nature Conservancy).