Executive producer and director Dean Devlin pitched Leverage to TNT in mid-2007, wanting to create a fun throwback show reminiscent of Mission: Impossible and The Rockford Files rather than the darker, edgier dramas common at the time.

The 13 episodes of the first season were intentionally written by John Rogers, Chris Downey, and Dean Devlin to form a complete story in case the series was not renewed for a second season.

The pilot episode was filmed on location in Chicago in July 2008, while the rest of season one was shot in Los Angeles; from season two onward production moved to Portland, Oregon, even though the show remained set in Boston until season five, which was both filmed and set in Portland.

The series was shot digitally throughout its run, using Red One cameras for the first four seasons and Red Epic cameras for the fifth, with extensive use of Steadicam; all dailies were shipped on hard drives to Electric Entertainment in Hollywood with no physical film or videotape used at any stage.

Jeri Ryan was brought in to play grifter Tara Cole as a replacement for Sophie during season two because actress Gina Bellman was pregnant in real life.

The show's roleplaying game, released by Margaret Weis Productions in 2010 using the Cortex Plus system, let players take on one of five roles from the show (Grifter, Hitter, Hacker, Mastermind, or Thief) and was nominated for an Origins award.

Leverage won Favorite Cable TV Drama at the 39th People's Choice Awards on January 9, 2013, shortly after being canceled amid falling ratings.

A South Korean adaptation of the series, produced by Production H and Higround for TV Chosun, aired from October 13 to December 8, 2019, and was distributed by Sony Pictures Television.