Phi Lambda Phi was first established as the Lambda chapter of Phi Lambda Chi National Fraternity in 1968. By 2000, the Lambda Alumni Association and the chapter realized that the other chapters and the Phi Lambda Chi National Board no longer shared a common vision for the future of the brotherhood. In 2002, the Lambda Chapter broke from Phi Lambda Chi and was established as the Alpha Chapter of Phi Lambda Phi on the principal of brotherhood for life. This can be found in the statement of mission.