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|Elevation||948 ft (289 m)|
|GNIS feature ID||432093|
Canaan is located at.
Canaan began growing slowly with the establishment of John Warfield's farm in 1812. The first known use of the name Canaan is dated November 15, 1832 when Edwards Ayres advertised that he had opened the Bee Hive, a public house, 14 miles from Canaan and 12 miles from Madison. On May 6, 1833 a road petition mentions Canaan in renaming a road to Versailles beginning at Canaan. It is generally recognized that Amos Simpers founded Canaan by virtue of the fact that he sold seven lots laid out along the road that is now State Road 62. On March 15, 1836 Canaan's original plat was filed in a Jefferson County deed book.
- Ephraim and Coy Kennedy came from Vermont in 1832.
- John Taylor came from Jefferson and Shelby County, Kentucky.
Indian-Kentuck Baptist Church
The Indian-Kentuck Baptist Church was established in 1814. In 1815, the church joined the Silver Creek Baptist Association according to the earliest independent record. On November 27, 1819 the church purchased a lot on Toddy's Branch for relocation but instead chose a site at Flat Bottom Cemetery circa 1820. In either 1844 or 1865, dates being disputed, the church was moved to its present site.
Canaan Methodist Church
Canaan Methodist Church was founded in 1830 by John Cain, William C. Sullivan, John Warfield, and Marscia Cook and their wives. The cemetery dates to 1829 with the first burial being that of a child named Susan Littlejohn. Katherine Cain is reported to be the next buial which took place July 30, 1833. The land on which these burials occurred was deeded to church trustees by Amos Simpers on April 22, 1834. Three buildings were reported as church buildings. One made of logs was located about one-quarter mile northest of the final church site. The other two were located next to the graveyard building, with the second in the 1840s and the last in 1868. On July 10, 1866 Joseph Lochard opened a store after operating a similar establishment in Manville for some time. This store was run by Joseph and later by his son Solomon Lochard followed by Don Carlo Lochard.
During the 1840s and 1850s, a number of people operated businesses in Canaan. In 1829, a tavern was established by E.B. Bishop and a man named Etherton. In 1837, Ephraim and Coy Kennedy opened a store and by 1840 they were operating Kennedy & Bros., a tobacco factory employing seven people. By 1850, 8000 pounds of tobacco was used in the production of cigars from which 780,000 were produced in 1850 and 750,000 were produced in 1870. By 1878, Canaan would also have a drug store.
On February 1, 1872, the Canaan Lodge of the Independent Order of Odd Fellows, was incorporated. On August 17, 1868, Canaan Lodge 393 of Free & Accepted Masons was organized only to be annulled. It was resestablished as Canaan Lodge 583 on February 28, 1890.
A high school opened in 1872 and mail delivery was through the Barbersville post office until November 29, 1938 when William C. Sullivan became the first postmaster, located at Section 2N Twp. 5N Range 11E. Canaan has the Canaan Elementary School 
Canaan Fall Festival
The Canaan Fall Festival in Canaan is the site of the longest-running annual Pony Express ride. It is held annually on the second weekend in September with a wide variety of antiques and collectibles, crafts, jewelry, fresh produce and furniture for sale. In recent years, the size of the festival has dwindled.
- "American FactFinder". United States Census Bureau. Retrieved 2008-01-31.
- "Canaan, Indiana". Geographic Names Information System, U.S. Geological Survey. Retrieved 2009-10-10.