The community was established by people of Italian, Scottish and French descent in 1909 when the Algoma Central Railway was built through the area. In 1923-1924 it was destroyed by fire. The community was rebuilt and is now a terminal for the Algoma Central Railway.
Hawk Junction has only one operating business, the Big Bear restaurant, with every other business being closed or abandoned. Residents of Hawk Junction need to drive to the nearby town of Wawa for any other services. It is a popular starting point for wilderness hunting and fishing trips. During the winter Hawk Junction is a major snowmobile drop off point.