Originally part of the White Star settlement area, it was established in 1904 by immigrants from Brittany, France, and initially known as Edouardville after a local settler. The community developed around the St-Jacques parish, serving as a focal point for French-Canadian settlers from regions like Guyenne, Brittany, and Normandy, contributing to one of Saskatchewan's northern French bloc settlements. The town was named for Henry Albert Morin, who brought in numerous settlers in 1914. The Post Office opened on January 1, 1914.

Albertville holds historical significance as the home of La Caisse populaire d'Albertville, Saskatchewan's second credit union, founded in 1916 by local Francophone residents to provide affordable financial services during economic hardships. This early cooperative reflected the community's emphasis on mutual support amid the challenges of prairie settlement, predating widespread credit union legislation in the province. As of the early 2000s, the village and surrounding hamlets, including nearby Henribourg (formerly Morinville), maintained a French-origin population of about 600, preserving cultural and linguistic ties within a predominantly English-speaking region.