Risley, spelt Rislie and Riseleie in the Domesday Book, probably means brushwood clearing from hris - the Old English and Old Scandinavian for brushwood or shrubs and leah - the Old English for a woodland clearing.

Many of the existing historical buildings within the village are connected to the Willoughby family which acquired Risley in 1350.

The small Elizabethan church of All Saints was built by Michael Willougby and his wife Katherine, who also founded a free school. The Willoughbys lived at Risley Hall opposite the church. The church is a rarity (one of just six in England) in that it be-longs to a period when most churches were being pulled down rather than being built. Inside, over the west arch, hangs a replica of the Royal Coat of Arms which survived when many of its contemporaries were destroyed.

The Willoughby family and their descendants played an important part in the education of the village's children. Katharine Willoughby left money in her will to educating children. Her great-great grand niece, Dame Elizabeth Grey, built the Latin House, Latin College and other associated buildings in the early 18th century

Risley Hall, which dates back to the 16th century was rebuilt around 1725 when the original was destroyed, probably by fire. The balustrade and gateway on the terrace are all that is left of the original great house. The Hall was later brought by Nottingham Corporation and used as an approved school for boys. It is now The Risley Hall Hotel. In the grounds are a nursing home, private dwellings and the Treetops Hospice, which offers care for the terminally ill.

Risley is also the site of the discovery of the Risley lanx, a Romano-British silver plate that is one of the most important and intriguing archaeological discoveries in the country. The lanx has a long and curious history and is now in display in the British Museum.