The hagoita originated in China and was brought over to Japan during the Muromachi period. At first, it was only used as a toy, or as equipment to play hanetsuki (a badminton-like game), but it gradually became an article to drive away evil spirits, and later became a charm given to women on oshogatsu (new year's day).

During the Edo period, hagoita decorated with pictures of Kabuki actors were very popular. Today, the hagoita has been designated as a traditional Tokyo handicraft.

Since the Edo period, a famous fair called Hagoitaichi takes place at Asakusa Temple over three days from December 17th. Many visitors come each year. The decorated hagoita sold at this event are famous for being made in Kasukabe, or Iwatsuki-ku in Saitama Prefecture.

Additionally, at the Hagoitaichi, hagoita with pictures of the people who received the most attention during the year, are notable and are often taken up by the media.