Wakkerstroom was established in 1859, making it the second oldest Boer town in Mpumalanga. The town is surrounded by a huge wetland area and is well known throughout the international birdwatching fraternity as being one of the best places to visit in Southern Africa. Around Wakkerstroom are found some of South Africa's most threatened bird species. Birding guides may be hired in Wakkerestroom for tours of the birding areas. Wakkerstroom houses several old buildings including Boer homesteads and British blockhouses, and was witness to several nearby battles during the Anglo-Boer wars. The Kruger Bridge built in 1893 over the uThaka River is a National Monument.

Some of the earliest settlers in Wakkerstroom were a number of gentlemen who had been, against their wishes, on the way to Australia. They broke out of their leg-irons and jumped ship in Durban, making their way to the closest place outside the jurisdiction of the Natal Colonial Police, Wakkerstroom.