Bazaliia was founded in 1570, and it has had the status of an urban-type settlement since 1957. Since 1924 until 1931 and since 1935 until 1959 it was an administrative centre of Bazaliia Raion.
Until 18 July 2020, Bazaliia belonged to Teofipol Raion. The raion was abolished in July 2020 as part of the administrative reform of Ukraine, which reduced the number of raions of Khmelnytskyi Oblast to three. The area of Teofipol Raion was merged into Khmelnytskyi Raion.[3][4]
Until 26 January 2024, Bazaliia was designated urban-type settlement. On this day, a new law entered into force which abolished this status, and Bazaliia became a rural settlement.[5]