The first issue of Perspectives in Religious Studies appeared in 1974. That year two issues were published, largely by the efforts and vision of Watson Mills, founder of the journal. The journal began as a "shoe box operation" out of Mills's office at Averett College (and his garage). Later, graphics arts students at Chowan College, in Murfreesboro, North Carolina, honed their skills by publishing the fledgling journal as part of their course work.

In 1979 Watson Mills moved to Mercer University, in Macon, Georgia, to establish and build Mercer University Press. Naturally PRS moved with him. In the exciting atmosphere of a new venture, the journal matured rapidly. As the circulation of the journal in creased, the number of issues also increased. In 1976 three issues were published. Later, in 1984, the journal became a quarterly publication.

By 1993 Perspectives in Religious Studies could boast a circulation of over 700, including libraries in colleges, universities, and seminaries in North and South America, Europe, Asia, Africa, and Australia. From humble beginnings the journal has gained an international readership in two decades.

An index of the first fifteen years of Perspectives in Religious Studies, edited by Watson E. Mills, was published in 1989.