Markley is on Highway 16 in far northeastern Young County near the Archer County line. The town was originally called Plum Grove in 1880. Young county school records indicate the first school was the Plum Grove school built in 1878 and discontinued in 1884. The town of Plum Grove was located one mile north of present Markley. The town Markley was later named in 1888 in honor of General A.C. Markley who settled in Young County.

Markley is located where Block Nos. 13, 14, 17 and 18 of Young County Land Abstract No. 1284 corner.

The school's first teacher was Belle Bette Blakley. School Trustees from 1878-1884 were: W.R. Bynum, B. Huber, Jesse Martin, William Airheart and G.T. Brown.

Markley's first post office was started by 1888 by Stephen Munderback who resigned his office in August 1889.

Markley had the first gin and mill in Young County when B. Smith used oxen on a treadmill to provide the power. County records show the gin was inefficient, so a steam mill replaced the ox-powered gin with steam in 1886.

Stephen Munderback opened the first mercantile store in Markley followed by Hugh Morrison. Settlers in the area according to county records include: Tinney, Bird, Hunt, Stewart and McDaniel.

In the 1920s, shallow oil fields were discovered in the Markley area, but none provided the amounts of oil compared to southern Young County. Markley had two general stores, two church buildings, a three room school and a drug store.

The cemetery has an annual "Decoration Day" each year. The last surviving school still rermains near the town site as well as the silent Methodist church building.