SeaWorld Orlando opened on December 15, 1973, as the third park in the SeaWorld chain, and just two years after Walt Disney World Resort's Magic Kingdom debuted. This made Central Florida a multi-park vacation destination. In its earlier years, the park relied more heavily on animal shows to attract visitors, and did not have many rides. SeaWorld was sold in 1976 to Harcourt Brace Jovanovich, and again to Anheuser-Busch, owners of Busch Gardens, in 1989.

Busch was experienced in theme parks and began to develop SeaWorld Orlando in a competitive and aggressive manner, changing it from show-focused to ride-focused. The park installed a simulator ride in 1992 called Mission: Bermuda Triangle (later rethemed to Wild Arctic). The nation's first water coaster, Journey to Atlantis, was installed in 1998. Kraken, a Bolliger & Mabillard floorless roller coaster, was added to the park in 2000. In the 2000s, Busch Entertainment opened two parks adjacent to SeaWorld Orlando: Discovery Cove, an animal park, opened in 2000, followed by Aquatica, a water park, in 2008. The flying coaster Manta, opened at the park in 2009 and won the Theme Park Insider Award as the best new attraction of the year.

In 2008 AB InBev purchased Anheuser-Busch and sold off Busch's parks to private equity firm Blackstone Inc. As a result of this selloff, the Hospitality House and Beer School were closed, and the Clydesdale Hamlet horse area was removed from the park. In 2013, Blackstone sold 37% of SEAS in an initial public offering.

On February 24, 2010, during a "Dine with Shamu" show, the orca Tilikum pulled trainer Dawn Brancheau into the water and killed her. An autopsy confirmed that Brancheau died from blunt force trauma and drowning; injuries included her scalp being removed and her left arm being severed below the shoulder. In August 2010, the United States Department of Labor's Occupational Safety and Health Administration cited SeaWorld of Florida LLC for three safety violations related to the incident. The total penalty was $75,000, and SeaWorld was mandated to install protective barriers between trainers and whales for future shows.

In 2012, SeaWorld Orlando introduced the Turtle Trek exhibit, which featured a 360-degree three-dimensional movie theater. In 2013, the Antarctica: Empire of the Penguin area debuted, including the country's first trackless dark ride alongside a renovated penguin exhibit. The dark ride would operate until 2020. Also in 2013, the film Blackfish was released, bringing to light concerns about the morality of the SeaWorld park chain's captive orcas. The SeaWorld chain claimed the film to be inaccurate, but it suffered lost revenue and attendance in the years immediately after the film's release.

In 2016, the hypercoaster Mako opened to positive reception. In 2019, the park rethemed the "Sea of Fun" area into "Sesame Street Land", themed to the popular children's television series Sesame Street.

In March 2020, the park temporarily ceased operations due to the COVID-19 pandemic. It reopened three months later.

Ice Breaker, a launched coaster manufactured by Premier Rides, opened in 2022 following several years of delays related to the COVID-19 pandemic. Pipeline: The Surf Coaster, a stand-up coaster, opened in 2023. A launched family roller coaster called Penguin Trek opened in 2024, replacing the former Antarctica: Empire of the Penguin ride.

In March 2025, SeaWorld Orlando was fined $16,550 by the United States Department of Labor after a killer whale injured an employee in September 2024. In March 2026, the park was sued for mishandling the Sesame Street brand in its themed children's area.