Kostobobriv was first founded in 1200. It is located near the Ugli Railroad Station, the second railroad station in the entire district.
Until 18 July 2020, Kostobobriv belonged to Semenivka Raion. The raion was abolished in July 2020 as part of the administrative reform of Ukraine, which reduced the number of raions of Chernihiv Oblast to five. The area of Semenivka Raion was merged into Novhorod-Siverskyi Raion.[2][3]