Three brothers, James F., W.T. and M.W. Locke donated the land on which the town was built. The town was incorporated September 27, 1878 making it the oldest incorporated town in Sevier County.  Nine years before it's incorporation it became the county seat.  Paraclifta had served as the county seat from 1830 until 1869 until the formation of Little River County made Paraclifta's location unlikely for a county seat. Most of the citizens wanted the county seat centrally located, and so Lockesburg bid for and was granted the county seat.

Lockesburg is home to Pond Creek National Wildlife Refuge. Geographically positioned in a area where the Central and Mississippi flyways overlap, this refuge provides outstanding habitat for waterfowl. The forested wetlands of the refuge are used by migrating and wintering waterfowl during the fall, winter and spring. Mallards, gadwall, American wigeon and wood ducks are among the over 15 species of waterfowl that traditionally use the seasonally flooded wetland habitats of the refuge. Other species seen less often include northern shoveler; blue and green-winged teal. The hardwood dominated forested wetlands of Pond Creek Refuge provide outstanding habitat for an abundance of birdlife, particularly neotropical migratory songbirds. Neotropical birds use the refuge as a rest stop during fall and spring migration to replenish energy reserves for the long journey to and from wintering areas in Central and South America. This habitat is also used for breeding and nesting during the spring and summer for many of these species. Carolina chickadee, tufted titmouse, Carolina wren. Prothonotary warbler; northern cardinal; summer tanager; Kentucky warbler; and white-throated sparrow are among the over 20 species of migrants that nest here. This refuge is south of De Queen, and north of Ashdown, Arkansas off of state highway 71. Watch for signs directing visitors to the refuge. This information is care of Sevier County and the U.S. Fish & Wildlife Service.