The party was established in 1931 by Anton Mussert and Cornelis van Geelkerken, based on the ideas of Italian fascism and German national-socialism. The party was also modeled after these examples, and therefore had several attached bodies, such as a youth movement.
In 1936, lead by Rost van Tonningen, the party became openly anti-semitic, which lead to decreased support for the party. In the 1937 elections, the party won 4 seats in the second chamber of the Dutch parliament (Tweede Kamer).
During World War II, Mussert was recognised by the Germans as the leader of the Netherlands. After the Netherlands was liberated on May 5, 1945, the NSB was prohibited. Many of its former members were convicted, including Mussert, who was executed on May 7, 1946.