In January 1936, Nevada Highways and Parks—known today as Nevada Magazine—was introduced by the state highway department. The Silver State was hardly the tourist magnet it is now. Legalized gambling in Nevada was five years old, the population of Las Vegas was less than 8,000, and Hoover Dam was less than a year old. State highway publicist and Nevada Highways and Parks editor Fred Greulich wrote a majority of the articles and collected photos that promoted Nevada's open roads—albeit in black and white. Always an information source for Nevada residents and tourists, what started as a digest-sized bulletin has grown into a colorful magazine.

During World War II, operation of the magazine ceased for five years. When production resumed, color photographs were used for the first time. In 1964, eight years after Donald L. Bowers replaced Greulich, the magazine was converted from a free publication into one with paid subscriptions, national distribution, and advertising. It was in Bowers' editor's note in the 1964 Nevada Centennial Issue that the publication was first referred to as Nevada Magazine.

Bowers' nineteen years as editor concluded in 1975. He was replaced for a short term by Judy Casey, who was succeeded that same year by Caroline J. Hadley, former managing editor of Car and Driver based in New York City. Hadley shaped the modern magazine—the name was officially shortened to Nevada Magazine, the frequency changed from quarterly to bimonthly, and it became a division of the Nevada Commission on Tourism. Kirk Whisler took over for Hadley in 1985, and in his six-year tenure, the magazine became self-supporting and entered the era of desktop publishing. Whisler also introduced an events section that has evolved into today's Events & Shows, which includes calendars of each issue's two-month shelf life featuring noteworthy attractions around the state. 

From 1991 to 2006, Richard Moreno and David Moore acted as publisher and editor, respectively, providing the publication with an important period of stability. Moore tallied twenty-eight years at Nevada Magazine, writing articles and building relationships with freelance writers and photographers, many of whom still contribute to the approximately 100-page magazine. Joyce Hollister assumed the role of editor in early 2006 after working as associate editor for four years.

In early 2007, following the arrival of publisher Deb Dudley, the magazine underwent a dramatic redesign, introducing a more contemporary look. Dudley aimed to capture the Nevada lifestyle by adding living and style sections to the magazine's tourism flavor. The magazine's mission is to educate the public about Nevada's heritage, culture, lifestyle, landscape, people, and events. In December 2007, Hollister was promoted to publisher. Matt Brown moved from associate editor to editor.

Nevada Magazine has an approximate circulation of 140,000. About 75,000 editions of Events & Shows, the contents of which appear in the magazine, are printed as a stand-alone publication.