Bagworth Park is first recorded in 1279 under ownership of the Bishop of Durham. In 1318 Roger de Holland was given permission to fortify his property at Bagworth. It is recorded under the ownership of Matilda Lovell in 1411. The Lovell family later sold the land to the Hastings family. Development of the site was granted to William, Lord Hastings by Edward IV in 1274 for "crenellation and emparkment of 2000 acres of land" along with the castle developments ay Ashby de la Zouche and Kirby Muxloe but there is no indication of any building by Hastings on the site prior to his execution by Richard III in 1483. A later moated house was developed on the site by Sir Robert Banaster in 1616.
In 1761 Baron Maynard funded the building and endowment of a village school for Bagworth.
In 1832 the Leicester and Swannington Railway was opened. It passed within 1⁄2-mile (800 m) of Bagworth and provided a railway station to serve the village. The Midland Railway took over the Leicester and Swannington in 1845 and opened a new Bagworth railway station 1 mile (1.6 km) north of the centre of the old village in 1849. The new station was renamed Bagworth and Ellistown in 1894 to reflect the nearby colliery village that had developed since Ellistown Colliery was sunk in 1873. British Railways withdrew passenger services from the line and closed the station in September 1964. The railway remains open for freight.
Bagworth's Church of England chapel of the Holy Rood was a dependent chapelry of the parish church of Saint Peter, Thornton. In 1848 Holy Rood was described as having a Saxon door and that its walls bore the date 1637. In 1873 the entire church except for the tower was rebuilt in granite with limestone dressings, with buttresses banded with red brick and blue vitrified brick. In the 20th century the Victorian church and medieval tower suffered subsidence so in 1968 they were demolished. They were replaced with a new modern church building that is unusual in being built of prefabricated concrete panels.
By 1848 Bagworth had also a General Baptists' chapel.