Florida Technological University, as the school originally was named, opened its doors in 1968 with a total enrollment of 1,948. Graduates of the young university gathered in 1971 as an ad-hoc committee and founded the FTU Alumni Association. The all-volunteer group was formally organized in 1975 and Gerald McGratty, '71, became the association's first president.

As the university grew, so did its alumni association. The first paid staff person was hired in 1978. That same year, the university changed its name to the University of Central Florida and its alumni group became the UCF Alumni Association. The association began recognizing alumni for their accomplishments and honored Dick Batchelor, '71, with the first Distinguished Alumnus Award in 1979. As the years progressed, professional achievement awards for graduates from each of UCF's colleges and awards for community service and service to the university were presented annually, recognizing alumni who "Reach for the Stars," the university's motto.

Scholarships were an early focus of the association, as they continue to be today. In 1977, the FTU Alumni Association awarded its first scholarship to Sue Mitchell, '80. In 1987 the Alumni Trust, a $1 million endowment for merit scholarships, was established. By the end of the 20th century, the association was giving more than $40,000 in scholarships each year to academically strong students who showed leadership qualities and were actively involved in the UCF community.

In 1989, the UCF Alumni Association's four-person staff instituted a dues program. Membership brought benefits alumni could use, such as discounts on UCF logo merchandise, and the modest annual dues paid for increased programming and events, as well as various newsletters, to keep alumni connected to their alma mater. A year later, the first alumni chapters were established in Brevard and Volusia counties. Today there are dozens of regional, college-affiliated and constituent chapters and clubs.

Through these chapters and as a whole, the UCF Alumni Association hosts more than 200 events each year, ranging from community service events to athletic pregame parties to career networking mixers and more. The largest annual event is the week of Homecoming, started in the early 1970s. Over the years, the celebration has grown. to include an awards gala, a golf tournament, various reunions and Homecoming football game festivities.

Reaching out to the entire university community, in 1993 the association started the Student Alumni Association, a student-alumni networking club that quickly became one of the largest student organizations on campus. Now more than 2,000 students belonged to the club,  known as 4EVER KNIGHTS.

In July 1994, the association moved its communications up a notch by starting Pegasus , a full-color, bimonthly magazine that was completely funded by advertising dollars. Pegasus is now a quarterly magazine with an online version as well.

Two years later, www.ucfalumni.com was launched, giving members and all alumni 24-hour access to information via an interactive website. As technology improved, targeted e-mail newsletters, social media sites and iPhone and Android smartphone apps were added.

In 2005, the UCF Alumni Association moved into the FAIRWINDS Alumni Center, a beautiful home for all UCF alumni, located on the north side of campus. Generous alumni and friends funded this building's construction through private donations. 

By 2010, UCF was the second largest university in the country, and the association wanted and needed to reach out to all graduates. The annual dues program ended, and all alumni are now part of the association. Life memberships continue, with special benefits and recognition given to these champions of UCF.