Lambda Phi Epsilon is the only nationally recognized Asian American Interest Fraternity, and the fastest growing fraternity, in the nation. Founded in 1981 at the University of California at Los Angeles, Lambda's founding fathers wished to transcend the lines of national origin that normally limit traditional cultural organizations. They hoped the fraternity would build strong leaders of its members, who would in turn lead their respective communities in a vision of the unity they had experienced as brothers. The vision of Lambda Phi Epsilon has since extended to universities from coast to coast, being established as a national body on May 28, 1990. Though it stresses Asian ethnic heritage and values, Lambda also includes people of different ethnic descent and encourages their participation and contribution.

Lambda Phi Epsilon at the Johns Hopkins University began with the crossing of seven charter members on October 2, 1994. As of the spring of 1997 and the crossing of Epsilon Class, Hopkins Lambda has expanded to include 17 active brothers and seven alumni. In February of 1998, brothers from chapters of Lambda Phi Epsilon all over the Eastern US came to JHU for Hopkins Lambda's hosting of the annual East Coast Brotherhood Rally.

Above and beyond anything else, though, Lambda Phi Epsilon is a fraternity, and brotherhood is the preeminent goal and vision of the organization. Discovering what real brotherhood is, how to live it out in daily life, and being enriched by other's brotherhood while giving of one's own, this is what Lambda Phi Epsilon is all about.