The school was founded by Rev. L. B. Gaston in 1857.[1] It was situated in a three-story building.[2] The college had a lyceum society and the students published a literary magazine[3] which was known as The Wreath.[4]
Its main building was commandeered by the Union Army for use as a hospital during the nearby battle of Shiloh in 1862, as was the nearby Tishomingo Hotel.[5] The Union Army evacuated the area in 1864, burning the college's building. Corona Female College never reopened.[1]