The suburb’s name derives from its RAAF base. Originally it was the only base of the Australian Flying Corps (AFC), which became the Royal Australian Air Force (RAAF). However, it was eventually superseded by RAAF Base Richmond and RAAF Base Laverton.

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The area was first inhabited by the Chirnside brothers as part of their vast pastoral holdings. Their Handyman Point Cook Homestead of twenty-five rooms was a centre of family activities including hosting members of the Melbourne and Geelong & District Hunt Club, as well as organising sporting events. It was also a significant breeding ground for horses and was the site of a race track. Eventually the family’s focus turned to their more elaborate Werribee Park mansion, which displaced the Point Cook homestead.

During the Second World War Point Cook was used as a training base for the AFC and later the RAF. The RAAF Museum of Aviation is located on the grounds, which includes an original AFC horizon tank, one of only three in the world.

In recent years the suburb has been expanding rapidly, aided by its proximity to Melbourne’s central business district and the airport.

There is a wide range of cafes and restaurants in the suburb, which reflects the diversity of Greater Melbourne. These include Italian, Indian, Malaysian, Chinese, Vietnamese, Korean, Japanese and Spanish as well as modern Australian cuisine. A large number of these are concentrated around the Point Cook Town Centre, Featherbrook Shopping Centre, Soho Village, Sanctuary Lakes railway station and across the freeway at Williams Landing.