The Wheel was constructed under Millennium plans to reconnect the Forth and Clyde canal with the Union Canal. Previously, a series of 11 locks connected these canals. However in the 1930s, they were dis-used, and were infilled. Using funds from the National Lottery, the Millennium Commission regenerated the canals of Central Scotland to connect Glasgow with Edinburgh once more. Designs were submitted for a lock to link the canals, with the Falkirk Wheel design winning.
On May 24, 2002, Her Majesty Queen Elizabeth II opened the Falkirk Wheel as part of her Golden Jubilee celebrations.