In 1730, European colonists Capt. Peter Powers and his wife Anna Keyes settled what is now Hollis with their two young children. The town was incorporated in 1746 and by 1760, more than 105 families called Hollis home. The wilderness the Powerses encountered on the fringes of what is now Silver Lake supported a church, graveyard, and a town common.

At the close of the Revolutionary War, where twenty-two Hollis men were killed in battle, the town had at least two taverns, one church, several schools, and about 250 homes. The road network carried commerce from Amherst, Pepperell, Milford, Nashua, and Boston. A general store, blacksmith, shoemaker, and cooper shops were located at the present-day crossing of South Merrimack and Silver Lake Roads.

Today, Hollis retains its historical character. Its town center village is listed on the National Register of Historic Places.