Randolph was the first location settled within the town, around 1820.
The Village of Randolph was incorporated in 1867. Voters in the village approved the dissolution of the village into a hamlet within the town of Randolph on March 16, 2010, becoming one of four villages in the county to have approved a village dissolution plan within a six month span. East Randolph and Perrysburg approved their dissolution plans on the same day; Limestone had done so in September 2009. At the time of dissolution, Howard MacLaughlin was mayor.
Randolph was once the home of the Chamberlain Institute and Female College, a Methodist school, which closed after a fire. The site of the Chamberlain Institute is now the home of Randolph High School.