The island was known to 16th-century Spanish explorers as Tandaya. Its population grew rapidly after 1900, especially in the Leyte and Ormoc valleys. In World War II, U.S. forces landed on Leyte (October 20, 1944), and, after the Battle of Leyte Gulf, the Japanese were expelled. Since the accessibility of land has been depleted, Leyte has provided countless number of migrants to Mindanao. Most inhabitants are farmers. Fishing is a supplementary activity. Rice and corn (maize) are the main food crops; cash crops include coconuts, abaca, tobacco, bananas, and sugarcane. There are some manganese deposits, and sandstone and limestone are quarried in the northwest.

Politically, the island is divided into two provinces: (Northern) Leyte and Southern Leyte. Territorially, Southern Leyte includes the island of Panaon to its south. To the north of Leyte is the island province of Biliran, a former sub-province of Leyte.