Galena was established in 1809 between Big and Little Walnut Creeks as a mill seat. A natural ten feet drop in elevation in a narrow neck between the two streams provided an excellent route for millraces and water-powered grist and saw mills were soon in operation. Gilbert Carpenter, the founder of the village, came from Wilkes Barre, Pennsylvania, and was the first Methodist clergyman in Delaware County. His gristmill held the first church services in the area.

The inauguration of municipal services came in 1924 with the incorporation of Galena. Among the early actions by the new council, led by Mayor Willard F. Bennett, was granting permission to an electric company to bring power to village residents and provide street lighting. A police officer, or marshal, was also elected in 1924, but it was not until the following year that a motorcycle was purchased for him. A volunteer fire department was created in 1939. It has since become a part of BST & G Volunteer Fire Department in Sunbury.

Galena today remains much like it was identified in the 1880 county history, "A quiet little village."