Opol was created from the barrios of Opol, Igpit, and Lower Iponan, formerly part of Cagayan de Oro, by virtue of Republic Act No. 524, approved June 15, 1950.
The municipality is gradually becoming more urbanized, as result of local population growth and the expansion of nearby Cagayan de Oro City. Historically, Opol was a more rural area focused on agriculture and fishing. The subdivision of rural land for new residential housing is a matter of some controversy amongst locals. The current Mayor, Dexter Q. Yasay (younger brother of the previous mayor), has held office in Opol since 2010.
Key economic activities in Opol include commercial fishing, farming, tourism/hospitality, and light industry. Notable economic infrastructure includes the San Miguel/Coca Cola bottling plant and fishing port at Luyong-Bonbon as well as the municipal market building, located adjacent to the Opol municipal centre.
The Cagayan de Oro - Iligan highway passes through Opol, alongside the coast. The highway is a key inter-regional transport route and comprises an integral part of the Cagayan de Oro - Iligan Corridor Special Development Project. This is a major infrastructure development initiative which is likely to result in significant economic growth for Opol, Misamis Oriental and the adjoining province of Lanao del Norte in coming years.
Philippine Ostrich & Crocodile Farm is the first combined ostrich and crocodile farm in the Philippines. The farm is home to several hundred ostrich and several dozen crocodiles, with both species being cultivated for leather and meat. The farm is open to the public for supervised tours.
Apple Tree Beach Resort (formerly called Lauremar Beach Resort, after being under new management) is a popular tourist resort located on the main beach in central Opol.
Opol Aviary and Mini Zoo features a wide variety of native birds and animals.
San Pedro Beach Resort is the first beach resort in Misamis Oriental. With big halls and cottages that could cater to seminars, weddings and other large gatherings. It also has medium to small size open air cottages for cozy and more private family or friends gathering. It also has affordable air-conditioned rooms with own bathroom and TV.
D. Yasay Beach Resort is an affordable party place for family/barkada gimik and company events. With clean open air cottages, social hall and air-conditioned rooms to choose from, guests are sure to find one that is just right for their budget.