The inaugural Asian Festival was launched in 2000 in Marshall Park by the Carolinas Asian-American Chamber of Commerce. After moving to the then-Wachovia (now Wells Fargo) Atrium, the Asian Festival was combined with the new Dragon Boat Festival in 2006 at Ramsey Creek Park.

The Carolinas Asian-American Chamber of Commerce modeled the Charlotte Dragon Boat Festival after similar events in a number of cities in North America. It is truly a community-based recreational/competitive and an environmentally friendly event that promotes team-building, wellness and cultural awareness.