Originally designed by Willie Lock in 1922, this course has undergone several renovations and re-routings over the intervening decades. In 1929, legendary architect Alister MacKenzie oversaw changes to the bunkers and aprons around the greens. In the early 1960s, Interstate 280 was routed through the property, so the club retained Robert Muir Graves to reroute accordingly. Then in 1996, the "Open Doctor" - architect Rees Jones - was brought in to solve some drainage issues.

LMGC has hosted numerous collegiate, NCGA, and USGA events, including the 1990 U.S. Junior Amateur Championship, where Tiger Woods made his USGA competition debut. Lake Merced regularly hosts sectional qualifying for both the U.S. men's and women's Open Championships. In April of 2014, the club hosted the first Swinging Skirts LPGA Classic, won by Lydia Ko in her first victory as a professional.