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Though evidences ofNeolithic andCeltic occupation exist on the commune's territory, the village itself was probably only founded during or after theGallo-Roman era, near the site of a villa not yet excavated. Some evidence suggest the presence of other villas and of a tile factory. The name of the village if of Latin origin, possibly derived from a family name.
During the Middle Ages, Espagnac seems to have become a dwelling of local importance, as attested by the existence of aMerovingian mint (three gold coins with the mention "Spaniaco Fit" have been found), of a large cemetery wheresarcophagi have been exhumed and of an abbey. It seems to have been the head of aCarolingianvicaria. The first written mention of its name appears in the will of Adhemar des Echelles, around 930 AD.
Then dependent on theabbey of Tulle, Espagnac devolved during thelate Middle Ages, and both the abbey and the church were burnt down by the troops ofGaspard de Coligny during theWars of Religion. The current church dates back from the late 16th century. A small restored Carolingian Chapel and the privately owned medieval castle ofPuy-de-Val are also present on the territory of the commune.