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The station originally began broadcasting on the AM band as CBPH. It is uncertain when the original station began broadcasting. The station moved to the FM band in the mid-1990s to 101.3 FM, then later moved to 101.1 FM in 1997, due to interference from the now former CKUA-FM rebroadcaster at 101.3 in Red Deer that had recently moved to a new FM frequency. The station would later change its calls to CFPE-FM.
CFPE-FM also operates a sister station, CFPF-FM (originally CBPG) that broadcasts a French language tourist/park information programing branded as Radio du Parc - 103.3 FM.
On March 26, 2013, The Banff Centre announced its intention to acquire CFPE-FM and CFPF-FM from the Friends of Banff in an application with the CRTC. In addition, The Banff Centre has also applied to operate a new commercial English-language FM radio station for an adult album alternative format which, if approved, would operate at 107.9 MHz with an ERP of 180 watts and a maximum ERP of 500 watts, with an effective HAAT of -326.4 metres. The approval to acquire CFPE and CFPF from the Friends of Banff was granted on July 19, 2013. The approval of the new station at 107.9, CJXB-FM, was approved on August 6, 2013.
In February 2015, it was announced that CFPE-FM, CFPF-FM and yet to sign on the air CJXB-FM will cease broadcasting.  The CRTC revokes The Banff Centre's applications of CFPE-FM and CFPF-FM on April 10, 2015.   Its unknown if CJXB-FM will be affected by the revokation of CFPE-FM and CFPF-FM.
- Decision CRTC 95-791
- Decision CRTC 97-658
- Decision CRTC 99-16
- Broadcasting Notice of Consultation CRTC 2013-154, CRTC, March 26, 2013 (See 6 and 7)
- Broadcasting Decision CRTC 2013-345, CFPE-FM and CFPF-FM Banff - Acquisition of assets, CRTC, July 19, 2013
- Broadcasting Decision CRTC 2013-368, English-language FM radio station in Banff, CRTC, August 6, 2013
- Banff Centre Radio suspending operations, will focus on podcasts, CBC News, February 24, 2015
- Broadcasting Decision CRTC 2015-140, CFPF-FM Banff - Revocation of licence, CRTC, April 10, 2015
- Broadcasting Decision CRTC 2015-141, CFPE-FM Banff - Revocation of licence, CRTC, April 10, 2015
- Park Radio
- The Banff Centre
- Query the REC's Canadian station database for CFPE-FM
- Query the REC's Canadian station database for CFPF-FM
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