Raptors 905

In 2008, Raptors president and general manager Bryan Colangelo said that Maple Leaf Sports & Entertainment Ltd. (MLSE) was considering launching an NBA Development League franchise in the Toronto area within a couple of years to serve as a developmental team for the Raptors. Hamilton's Copps Coliseum and Oshawa were reportedly under consideration to host the franchise. However, a Canadian-based franchise posed difficulties due to tax and visa issues, and Rochester, New York, which is just across the United States border, was considered as an alternative.

In April 2015, Colangelo's replacement Masai Ujiri announced that MLSE's board had approved purchasing a franchise, and that they were in negotiations with the NBA over where the team would play and whether it could be launched in time for the 2015-16 season. In June 2015 it was announced that MLSE had purchased a D-League franchise, which would be named the Raptors 905 and would begin play that fall at the Hershey Centre in Mississauga, Ontario, a suburb of Toronto. The team is named after the area code used by much of the suburban Greater Toronto Area. The franchise reportedly cost $6 million. An agreement was negotiated with the Mississauga Power of the National Basketball League of Canada, which held the basketball lease at the Hershey Centre, with the Power folding. The team planned to play some games at Toronto's Air Canada Centre, home of their NBA affiliate the Toronto Raptors.

On July 7, 2015, Jesse Mermuys was hired as head coach and Dan Tolzman as general manager. Mermuys left his position as an assistant coach under Toronto Raptors head coach, Dwane Casey. On July 28, 2015, veteran coach Tim Lewis was named lead assistant coach. On November 4, 2015, Raptors 905 unveiled their new uniforms and an alternate logo.

On June 13, 2016, it was reported that Mermuys would leave the 905 for the LA Lakers, joining them as an assistant coach. In September, the Raptors announced that Jerry Stackhouse would be the head coach of the Raptors 905 team.

In 2016–17, the 905 finished with a 39–11 record (the second-best record in G-League history) clinching their first division title and with a record of 21–4 on the road (a D-League record). Stackhouse was awarded the Coach of the Year, while Center Edy Tavares was awarded Defensive Player of the Year. Making their way to the playoffs as the top seed, they swept the Canton Charge in the first round and then swept the Maine Red Claws in the second, clinching their first conference title. In the finals, they met the Western Conference champion Rio Grande Valley Vipers whom they beat in three games and claimed their first title in franchise history. Pascal Siakam was named the Finals MVP after recording 32 and 17 points in Games 2 and 3 respectively.