The history of the Dixon Gallery and Gardens begins with two exceptional people, Margaret Oates Dixon (1900-1974) and Hugo Norton Dixon (1892-1974). Philanthropists and community leaders, the Dixons ensured a richer and more varied cultural life for Memphians by bequeathing their home, gardens and collection of French Impressionist paintings for the enjoyment and education of future generations. The Dixons also established the Hugo Dixon Foundation, a separate entity that assists in funding the Dixon Gallery and Gardens in perpetuity.

The Dixon Gallery and Gardens celebrated its 30th anniversary in 2006. The museum complex and gardens opened at the bequest of the late Hugo and Margaret Dixon who left the house, grounds, and the bulk of their estate to set up a foundation to fund the institution, which was established for the enjoyment of the people of Memphis. Although a public institution, the museum receives no city, state or federal funding, it is funded by the Hugo Dixon Foundation, individual, and corporate contributions.

The Dixon residence was designed by the prominent Houston architect John Staub who is best known for the development of the River Oaks suburb in Houston and Hogg Mansion, Bayou Bend, which now houses the decorative arts collection of the Houston Museum of Fine Arts. The Dixon home was completed by 1942 and is reminiscent of designs by 19th century American architect Robert Mills. The residence opened to the public in 1976, and today is still devoted to displaying the works collected by the Dixons.