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Wolffdene derived its name from the Wolff family, who selected property in the area during the 1860s. There have been various spellings for the locality over the years, including Woolfdean and Woolfdene in 1888, Wolfdene in 1892 and the current Wolffdene since 1924.

The Luscombe sugar mill was opened in 1885 and run by Mr F Shaw. The mill was built by Brisbane engineers Messrs. Smith, Forrester and Co. It had the capacity to produce three tons of sugar a day. Local residents Mr Henderson, Mr Hinchcliffe, Mr Wolff and Mr Savage were among the people who attended the opening. Otto Wolff was the first official sugar boiler when the sugar industry was founded in the Shaws Pocket area.

In 1888, a receiving office opened in Wolffdene, which was designated a post office in 1927. In 1938, Mrs Matilda Jesse Wolff (nee Daniels), who had been post mistress 30 years, died. The post office continued to operate until it was closed in 1953.

The Wolffdene provisional school opened around 1892. In 1894, local residents self-funded the school building’s expansion. In 1909, it was renamed Wolffdene State School. In 1912 the school’s head teacher was Frances Greenelah, who had transferred from Burdekin school. In 1934, tenders were accepted for a new school building, and long-standing teacher Mr G W Marks was farewelled after 14 years of service. The school closed in 1935, briefly reopened in 1939, and closed permanently in 1942.

In 1968, a proposal for a dam in the Wolffdene area was released. In March 1990, Minister for Primary Industries Hon E D Casey announced that the chosen dam site chosen had been abandoned for consideration as a future water supply dam.