The race was founded in 1980 by a group led by Noel Carroll, who persuaded the Business Houses Athletic Association (BHAA) to take up the idea. In the first year, 2,100 took part, of whom 1,420 finished. Dick Hooper of Raheny club Raheny Shamrock Athletic Club claimed first place, in a time of 2:16:14. The women's winner was Carey May who finished in 2:42:11. That year's runner-up was Neil Cusack, who returned in 1981 to post a winning time of 2:13:59.

Jerry Kiernan's 1982 time of 2:13:45 was a long-standing men's course record. This was finally improved upon by Lezan Kipkosgei Kimutai over twenty years later in 2004, but Russian runner Aleksey Sokolov twice broke the record with consecutive wins in 2006/07, running 2:11:39 then 2:09:07 the next year. Moses Kangogo Kibet became the first man under 2:09 in Dublin with his win in 2:08:58. The current men's record is 2:08:31 set by Geoffrey Ndungu in 2011.

Moira O'Neill was the first woman under two hours and forty minutes with her win of 2:37:06 in 1988 and home athlete Christine Kennedy improved this with a run of 2:35:56 three years later. Kenyan Ruth Kutol win in 2:27:22 in 2003 was the first sub-2:30 time and Russian Tatyana Aryasova broke this record in 2010 with her current women's record of 2:26:13.

The participation level of the race has followed an upward trend: by 1988 the number of participants had increased to 8,700 – up from the 4,000 the previous year. It was not until 2000 that the 1988 participation record was finally broken when 8,900 took part. An increasing number of people took part every year in the late 2000s, with 11,000 at the 2007 edition, 11,700 participating in the 2008 race, and a record 12,799 starting the event with 10,446 finishers in 2009. There were 14,000 runners this year (2011)

In 2001 the marathon became part of the Adidas Marathon Series, which now also includes warm-up races of 5 miles, 10 miles and half marathon distance over the preceding months, all run in the Phoenix Park.