Proffitt is nine miles west of Newcastle, four miles east of the Throckmorton county line. The town was named for the Proffitt family, who took up ranching along the Brazos River and Elm Creek northwest of Fort Belknap in 1862. After the Civil War, John Proffitt donated two acres of land for a church building which also served as a school and Masonic Lodge. A post office was established in 1880 with J. G. Armstrong as postmaster.

Proffitt started a freighting business and built a store in the community in 1894. The settlement grew to include Methodist and Baptist churches, a three teacher schoolhouse, general store, Masonic Hall and cotton gin. In 1896, Proffitt installed telephones in the town's houses when John Proffitt established a telephone exchange in his home. The last business in Proffitt was the A.H. Bradshaw Grocery Store in the 1909. The post office was closed and mail was moved to Newcastle in 1925.

Early pioneers included the Proffitts, Wells, Boyles, Griffins, Wilhoits, Holberts, Gibbs, Dooleys, Thomas, Wilkinsons, Drum, Kings, Clouds, McCarsons, Hudsons, Coles, Tankersleys, Adair and Lewis.

A cemetery, the First Baptist church builidng and the last red brick school, which is now a private residence are still in the community.