Pi Lambda Sigma was founded at Syracuse University in 1903, and holds the distinction of being the oldest library honor society in the United States. The chapter follows the motto of the Greek words Paideia, Logos and Sunophelimoi. These words bring together the best qualities of the profession - culture, the expression of thought, and service.

In 1959, Pi Lambda Sigma affiliated with Beta Phi Mu, the international library and information studies honor society, to expand local efforts in the areas of library and information studies.