In 1919, Frenchman Pierre George Latécoère was granted clearance from the French and Spanish governments to establish an airline route between Toulouse and Casablanca. This also included stopovers in Málaga, Alicante and Barcelona. The airport opened on 7 April 1930, after King Alfonso XIII signed a royal order announcing that the military air force installations on the Bay of Gando would become a civilian airfield. In its existence, the airport has become the largest gateway into the Canary Islands, as well as the largest in terms of passenger and cargo operations, although the island of Tenerife has higher passenger numbers overall between the two airports located on the island.

In 1946, the old passenger terminal opened, which took two years to build.

In 1963, improvements to the airport were made. This included new parking spaces, enlargement of the terminal and the provision of a visual approach slope indicator system. In 1964, a transmission station was built. In 1966 a new control tower was completed, replacing the old control tower that was constructed in 1946. In 1970, work began on the current passenger terminal which opened in March 1973. During this time, a second runway was being built and this was completed in 1980.

In December 2010, low-cost carrier Ryanair announced the opening of 3 new bases on the Canary Islands. In addition to Gran Canaria these include Lanzarote and Tenerife South. Ryanair presently operates 30 routes from Gran Canaria. The airport was an official alternative (emergency) landing site for the NASA Space Shuttle, before the ending of the Space Shuttle programme in July 2011.

As of 2011, there was a programme to expand the airport, extending the terminal and creating a new runway.