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The Round Table Club of Eugene began in a preliminary meeting on the evening of November 20, 1912. A group of ten men met in Villard Hall at the University of Oregon to discuss "the advisability of organizing a college alumni association." Their interest was a gentlemen's club of college degree-holders living in Eugene. At the second meeting on December 9, the association's name, The Round Table Club of Eugene, was chosen and a constitution was drafted.

Article II of The Round Table's constitution states the club's primary objective: "The social and intellectual enjoyment of its members." The group accomplishes this with eight regular monthly meetings on the second Tuesday of each month, between October and May. Each meeting consists of a dinner, followed by the reading of a research paper by a member, written for the occasion.

The club started with only thirty members; half of them were University of Oregon professors and half were Eugene citizens of various professions. The Round Table has since grown to 70 active members, maintaining the rule of split membership between university professors and Eugene citizens. There are also honorary members. These members have all the rights of regular, active members, but cannot hold office. They are chosen based on an election among existing members. In addition to this, there are also life members: those over 65 years of age. They have all regular rights, but are not required to pay club dues.

The Round Table officers consist of a president, vice-president, secretary, and treasurer. Officers are chosen by election among all club members and no officer may hold a single office for more than one year. It is the president's duty to appoint members of the club's two committees. The Executive Committee oversees due collection, speaker selection, and meeting place reservation for the club. The Membership Committee chooses new members from nomination forms submitted by existing members.

Although The Round Table began as club for men only, the final meeting in May of every year was observed as "Ladies' Night." Wives of the members were invited to take part in the meeting. Members are also invited to bring male guests to any meeting. However, in 1996, due to Declining numbers in membership, the club officially recognized females as members, but still enforced all other membership requirements. Although some members resigned because of the change, The Round Table prospered, both in membership numbers and in the newly recognized female perspective.

Many of the University of Oregon's and of Eugene's most noteworthy citizens have served as Knights of the Round Table. This includes University of Oregon presidents Donald Milton Erb, Orlando Hollis, Robert Clark, and David Frohnmayer.