The name translates to the glade of the mead-dwellers, mead being an alcoholic brew from at least medieval times. Llannerch-y-medd was once a major centre on the island for harp playing, and had a thriving livestock market. At one time, over 200 cobblers were engaged in producing footwear for workers in the copper mines of Parys Mountain. Now there are none.

Llannerch-y-medd was at one time an important station on the Anglesey Central Railway, with a single platform because of limiting ground conditions. However, there were a number of sidings and goods sheds. The station reopened as a heritage and community centre in 2010 with grants from Anglesey Council and enterprise agency, Menter Mon.