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The Parabellum pistol was developed by Georg Luger on behalf of Ludwig Loewe & Co (later renamed DWM) as an improvement of the Borchardt pistol of 1893, primarily reworking its large overhanging rear end and extremely straight grip angle, and carrying over its distinctive toggle action system. Parabellum was the pistol's name in most languages around the world, however it was instead referred to as simply the Luger pistol by an American importer a few years later, which has resulted in this being the standard common usage name within the English-speaking world.

The earliest prototypes were developed just before the turn of the century, with the initial Modell 1900 entering production in that year; Switzerland adopted a slightly modified version of this model. Between 1900 and 1906 several notable though relatively minor improvements were made to the design, culminating in the definitive Modell 1906. In terms of visual identification, the "new model" can be most easily differentiated from the "old model" in the following ways: The cocking knobs are symmetrical in depth as opposed to the scalloped shape towards the front (and feature checkering), the main spring's change from a leaf spring to a coil spring resulted in the deletion of the anti-bounce spring on the right toggle knob, and the frame was redesigned for weight. The frame change is most obvious between the trigger guard and barrel, with the old model having a consistent curve, while the new model features straight lines with a slight curve where they meet (also resulting in less visible surface area around the disassembly lever).