W. F. Cannon Elementary was the first elementary school to open in Grapevine-Colleyville Independent School District in the fall of 1959. Cannon Elementary is named after W. F. Cannon. Mr. Cannon was Superintendent of Grapevine Schools from 1938-1958. Mr. Cannon died suddenly of a heart attack on his way to Sunday School in 1958. W. A. Ferguson was the Superintendent of Schools when Cannon Elementary opened in the fall of 1959, and Mr. M G. Woods was the principal.

Additions to Cannon Elementary have been made in 1963, 1980, 1988, and 2009. In 1963 the north wing was added. In 1980, a new office was built, the library was enlarged, the gymnasium was added and renovations were done throughout the building. In 1988, an additional wing was added to the east end of the school which added 10 classrooms, a new cafeteria and the office was remodeled again, to add an additional 7 classrooms. In 2008, a new wing was added on the northwest end of the school. This added new bathrooms and five more classrooms. A new campus was built in 2018 on the same site as the original Cannon Elementary. The original Cannon Elementary opened its doors with only 14 classroom teachers and one music teacher. Mrs. Lou Dalton was the only secretary at Cannon Elementary until 1985.

Cannon Elementary is very fortunate to have had the direction and leadership of many great principals: M. G. Woods, Martha Walker, Denise Weber, Norma Kinchen, Mary Evans, Linda Houston, Patti Davis, Tim Sutton, Tona Blizzard and the current principal, Tina Garrett.

Cannon Elementary and the surrounding community have both changed tremendously since 1959. In order to meet the changing needs of the community, Cannon has added new classrooms, new wings, new staff and a new building over the years. Methods of providing students with quality instruction have also changed dramatically over time. However, Cannon's tradition of excellence has not changed. Cannon Elementary students excel academically and are lucky to be served by an extremely dedicated and highly skilled staff. 

 Celebrating 50+ Years