Publication of the journal started in 1935 by the Lithuanian Folklore Archive, with Jonas Balys, the director of the Archive, as its first editor. Unfortunately, during the Soviet occupation of Lithuania (1944–1990), publication of the journal ceased, but in 1992, it was resumed largely thanks to the efforts of the academy professor Leonardas Sauka. The journal is currently published by the Institute of Lithuanian Literature and Folklore, which has inherited the collections of the Lithuanian Folklore Archive and has become an established center of folklore research. From 2013, the Editor-in-Chief is Bronė Stundžienė.
The journal is designed to serve the academic society and everyone interested in folklore, popular tradition, and the current state of its research. The general publishing strategy is shaped by the Editorial Board, while selection of articles for each issue is managed by its special editor(s). The journal publishes research articles in folklore and related contemporary disciplines in humanities and social sciences (mythology, ethnology, ethnomusicology, anthropology, linguistics, etc.), or interdisciplinary research. It also includes publications of the archived materials and current fieldwork results, historiographic sources, book reviews, and chronicle of the academic life.