During 1960, Piper introduced the new Piper Aztec powered by 250 hp Lycoming engines. Cessna was already building the 310 with the Continental IO-470D which developed 260 hp. The Beechcraft reaction was the Model 55 Baron. The 1961 N35 Bonanza was being introduced with the 260 hp Continental IO-470N. Time was ripe for a new, more powerful Beechcraft entry into the light twin marketplace. The new Baron proved to be a very good fit.

Beechcraft 95-55 N9695R, c/n TC-1, is the first Baron built and was first flown on February 29, 1960. Frank Kimmel III, of Greenwood, MS placed this aircraft on loan to the Bonanza Baron Museum in 2004.