Extractivism has been predominant in the Arctic since whaling and sealing campaigns began in the sixteenth century, followed by mining and drilling for oil and gas. In this chapter we present some of the main features of this ‘extractivist history’ of the circumpolar region. We organize this development along a set of themes. First, we explore the extractive frame of mind in Western thought and how it has continued to shape visions of the region. Second, we explore the material and social impacts of historical extractivism. Third, we use the theoretical lens of colonialism and decolonialism to understand the social and political relations, especially with aboriginal populations. Fourth, we examine the, often fraught, recent and contemporary debates around contemporary and future extractivism and its implications for the Arctic. The historical overview serves the purpose of providing a legible pattern from what is also a range of diverse and rich variations. A key finding is that extractivism is a lasting legacy and a path dependency of the region. At the same time resource extraction has many problematic sides that the seeking of new Arctic futures will have to deal with.