The original John Wayne Airport, formerly known as the Orange County Airport, was established in 1923 with a single runway and a small terminal building. Its construction cost was approximately $35,000.

The 1990 John Wayne Airport Project involved a significant renovation and expansion of the airport's facilities. It included the construction of a new terminal building, multiple parking structures, and upgrades to the existing runway and taxiway systems. The project's total cost amounted to around $375 million.

Funding for the project was obtained from various sources, such as grants from the Federal Aviation Administration and the Airport Improvement Program. Additionally, revenue from airport fees and bonds issued by the airport contributed to the financing. The project reached completion in 1992, resulting in a substantial improvement to the airport's capacity and enhancing the overall passenger experience. These enhancements played a vital role in supporting the continuous growth and economic development of Orange County and the surrounding area.

Over time, the airport underwent several further expansions and upgrades to meet the rising demand from travelers and to comply with evolving safety and security standards. The most recent and extensive of these upgrades was the John Wayne Airport Improvement Program, which concluded in 2019. The program, costing approximately $1.1 billion, further enhanced the airport's infrastructure and facilities to meet the needs of passengers and maintain the highest standards of safety and efficiency.