Many of the residents of Raglan are descendants of the first European settlers of the area who displaced Aboriginal hunter-gathers from the valleys and slopes below Mount Cole, with various roads and lanes bearing the family names of those settlers.
Raglan was named after FitzRoy Somerset, 1st Baron Raglan who was a Field Marshal during the Crimean War. it was surveyed in 1855, a few kilometres north-west of Musical Gully which was the first of the finds which provoked the Fiery Creek gold rush.