Velvet Revolver recorded their first track "Set Me Free" for the Hulk soundtrack in 2003 and also did a cover of Pink Floyd's "Money" which is featured in the movie The Italian Job. The band played its first live gig at the El Rey in Los Angeles in June 2003.

Velvet Revolver recorded their first album, Contraband, in the latter part of 2003 and the album was released in June 2004. Contraband debuted at #1 on the Billboard album charts, #11 on the British album charts, and #2 on the Australian charts. The first single, "Slither," topped a composite world modern rock chart in June, reached #1 on the Billboard Mainstream Rock Tracks chart and #5 on the Billboard Modern Rock Tracks chart. "Slither," which is also the band's first music video, reached #56 on the Billboard Hot 100, Top 40 on a European composite chart, in Canada, and in Australia. Since then, the band has released three more singles: the ballad "Fall to Pieces", the hard-rocker "Dirty Little Thing", and "Come On Come In".

As of August 2005, Contraband had sold more than 2 million copies in the United States, and the rigorous touring in support of the album has reached global scales. As of now, the band has toured both the United States and Europe twice, while also hitting Australia, New Zealand and Japan.

Velvet Revolver performed at Live 8, playing "Do It For the Kids," "Fall to Pieces," and "Slither?. The band also recorded a new song entitled "Come On, Come In" for the 2005 movie Fantastic Four. During 2005, the group announced that a second album was in the works. In December 2005, the band set Libertad (Spanish for "freedom") as the working title of the album.

In September 2006, Matt Sorum confirmed via Camp Freddy Radio on Indie 103.1 that the band had recently signed a deal with Rick Rubin to produce the new album. However, on his website, Sorum later claimed that former Stone Temple Pilots producer Brendan O'Brien will be producing the album.

It was announced on May 11, 2007 that as a precursor to Libertad, the band will release an EP in June titled Melody and the Tyranny. On May 13th, 2007, Duff McKagen announced that possibly 2 songs from Libertad ("She Builds Quick Machines" and either "Let It Roll" or "Get Out The Door") will be playable on the upcoming videogame Guitar Hero III.

On the June 8, 2007, the music video for "She Builds Quick Machines" debuted in the UK. On the 8th of June 2007, Velvet Revolver played a slot at the UKs Download festival. They played: "Do It For the Kids", "Slither" and "Sucker Train Blues" from their first album Contraband. They also debuted a number of songs from Libertad, including "She Builds Quick Machines".

On Thursday the 21st of June 2007, Velvet Revolver performed in a concert that was streamed live via MSN MUSIC.

After scrapping the original May 29 release date, Velvet Revolver has settled on July 3 to unveil its second RCA album, "Libertad." On June 23rd 2007, four songs of the album were available in full stream audio onto the internet ten days before retail on BestBuy's website. Libertad then debuted at #5 on Billboard 200 with 92,000 albums sold.

Velvet Revolver can be seen on tour in the U.S. starting August of 2007.