The Angelo M. Iacoboni Library was founded in 1954 - the same year that Lakewood officially incorporated as a city. Originally the library was located in the Faculty Shops in Lakewood Center near what was then the City Hall. The library moved to a larger building in 1959 and was rededicated in 1965 as the Angelo M. Iacoboni Library, after Lakewood's first mayor. The library moved to its present location in 1973. It became a depository for federal documents in 1970 and a depository for California documents in 1973. An active Friends of the Library group was formed in 1972 and supports the Angelo M. Iacoboni Library and the George Nye, Jr. Library, which is also in Lakewood.
On February 12, 2001, the Angelo M. Iacoboni Library reopened for service following several months of renovation. The project was a joint effort of Fourth District Supervisor Don Knabe, the City of Lakewood and the County of Los Angeles Public Library. The remodeled library has a new look with a redesign of the interior, improved lighting, technology upgrades, and a newly constructed Friends of the Library Bookstore.