Although Tolo as a village is a relatively new addition to the map by Greek standards, its modern history starting in 1830, the area where it is situated and its surroundings go back much further. The bay of Tolo was first written about by Homer, as was Asini in the Iliad, named as one of the cities whose fleet took part in the Trojan War. In the centuries to come the bay of Tolo gave refuge to battle ships at various times and then during the Byzantine period was revived as an auxiliary port to Nafplio and became the place to come for a summer stroll. During the Crusades Era and the break-up of the Byzantine Empire (1204 AD), along with the rest of the Peloponnese, the area came under Frankish rule until 1389 AD, when it was then taken over by the Venetians, and in 1540 AD to the Ottomans . Following that and the alliance between the Venetians, the Germans, and the Polish against the Ottoman Empire, the chief of the allied forces, Vice-admiral Morozini was ordered to capture the capital of the Peloponnese, Nafplio at that time, and the bay of Tolo was chosen as a place suitable as a base of operations for his expedition as it was the safest place in the region, while the shore was used for the army to camp. After the success of his expedition and until 1718 AD, when the area again was occupied by the Turkish, Tolo was used as a secondary naval station for the Venetian fleet. A monument of this time is the small church named Zohodos Pigi, built in 1688, and the ruins of the fortress on the island of Daskaleio in the bay of Tolo. Fortifications, ruins of houses and reservoirs can also be found on Romvi island. During the Turkish occupation the people lived in constant terror and  we are reminded of this by “Daskaleio” (teaching place) island and its “Kryfo Scholeio” (Secret School) where children of the time where taught in secret their national language and history. With the revolution of the Greek Nation in 1821, Nafplio became the first capital of Greece and from here the remaining Greek states under Turkish rule were aided. Kapodistrias resolution in 1831 started an attempt to resettle inhabitants who had been forced to leave their homes and Tolo as an area of land was given to refugees from Crete who were trying to save themselves and their island from the new conqueror, Egyptian Viceroy Mohammed Ali who had been given the island by the Ottomans for his services to them.

In 1834, by Royal Decree, a city was founded at the Port of Tolo and named Minoa in honour of the King of Crete, Minoa. After the liberation of Crete the remaining refugees in the area formed the picturesque fishing village which eventually became known as Tolo in 1916. From the middle of the 20^th century, with its natural beauty and situation allowing easy access to the neighbouring archaeological sites, Tolo saw the beginning of the tourist industry and evolved into the popluar summer resort that it now is, offering hospitality to tourists from all over the world.