Mosman Rowing Club was initially known as Mercantile Rowing Club and began racing in its distinctive red and white hoops in 1873.

The club’s first boatshed was built on leased land at Dawes Point on the west side of Circular Quay. However in 1911 poor water conditions around the Quay and the expiration of the Club's lease meant that the Club could no longer operate in that location. A decision was made to relocate the original boatshed and all rowing equipment to Mosman Bay, and to re-establish the club as “Mosman Rowing Club”. 

Mosman Rowing Club operated from the original sheds until 1933 when the old boatshed was demolished and a new clubhouse built on the Mosman Bay site. However within 20 years boating and ferry growth in and around Mosman Bay became such a problem for rowing and training that the Club moored a small houseboat on the sandy beach in Pearl Bay on Middle Harbour below what is now Spit Road. This houseboat became the Club’s senior training location.

When Spit Road was rebuilt in 1964, the original sandy beach was in-filled behind a seawall and the old house-boat had to go. The Club raised the money to build what was then a “state-of-the-art” three bay boatshed just off Spit Road at Pearl Bay. The new Pearl Bay boatshed was opened in 1967 and the Club’s rowing activities progressively moved from Mosman Bay to Pearl Bay, with the Mosman Bay clubhouse transforming into a licensed social club.

On 1 April 2007, following a decision to permanently separate Mosman’s rowing activities from the licensed social club, Mosman completed its full relocation to Pearl Bay. The Club continues to occupy and use the boatshed built in 1967.

In 2009 a second and much larger boatshed was built alongside the existing boatshed, more than doubling racking space and providing the club with a large gym and function centre. Racking space in the new sheds is leased to three private schools, and Club boats continue to be racked in the old sheds.

In 2010 a second pontoon was installed to complement the new boatshed. The new pontoon completed a major two year program to upgrade Club facilities, and has equipped the Club with for many more years of growth and success.