Ashfield was first named Huntstown in honor of Captain Ephraim Hunt. It was created in 1736 as payment to soldiers who had participated in an unsuccessful military campaign against Canada in 1690. Settlement began around 1745, but was abandoned for a time in the 1750s. In 1765 Huntstown was incorporated as the town of Ashfield. During the early 1800s a thriving peppermint and essence business created a population boom. Dairy farms, sawmills, apple orchards, and maple sugar houses have been longstanding sources of income for Ashfield families.