The principal goal of the FEBio project is to provide an advanced finite element tool for the biomechanics and biophysics communities that allows researchers to model mechanics, transport, and electrokinetic phenomena for biological systems accurately and efficiently. In addition, since FEBio is geared towards the research community, the code is designed such that new features can be added easily, thus making it an ideal tool for testing novel computational methods. Finally, since the success of a code is determined by its user base, an integral part of the FEBio project has been to offer support and outreach to our community, to provide mechanisms for dissemination of results, models, and data, and to encourage interaction between users. This review article presents the history of the FEBio project, starting from its initial developments through its current funding period. A glimpse into the future of FEBio is presented as well.