Probably the first white settlers to reach Corack were the Donald brothers and Hamilton, in 1844, who held Corack station in conjunction with Banyenong East.  Much of the land was heavily timbered, particularly in the area which became the parish of Corack East. Lake Buloke, which fills in years of high rainfall, is renowned as a wildlife centre and popular with duck-shooters when that season is open.

After the Land Acts of the 1860s, this area was opened up for small selections, and became a flourishing agricultural community, with post office and stores, a hall and churches.  As families grew, rural schools were opened.  Now, only the hall remains, as properties have consolidated and become larger while the population has decreased.