In March, 1956, an eight-room school was built in conjunction with the construction of Good Shepherd Church. Initially, the school building was used only for weekly Confraternity classes under the direction of Sister Vincent De Paul of St. Margaret's Academy. In the spring of 1959, however, three sisters were assigned to Good Shepherd Parish to teach. Three lay teachers were also hired, and the six teachers formed the first faculty of Good Shepherd School. The school opened that year with two rooms each of fifth, sixth, and seventh grades, and the eighth grade was added the following year.
In 1961, an eight-room addition to the school was erected. In 1977, the fourth grade was added and a special program for seventh and eighth graders called "Bridge the Gap." That program allowed the students to use the high school facilities for part of each day. The seventh and eighth grades were formally moved to Benilde-St. Margaret's in 1989, when that school, in cooperation with Good Shepherd School and other area elementary schools, opened a regional Catholic Junior High School. Good Shepherd School continued with a kindergarten through sixth grade program.
In 1992, Good Shepherd changed its name to Parkvalley Catholic School. The change was with the result of a merger of Good Shepherd School and Holy Family School. It was renamed Parkvalley Catholic School to geographically indicate the merger of Golden Valley's Good Shepherd School with St. Louis Park's Holy Family School. Both Good Shepherd and Holy Family schools had kindergarten through sixth grade programs. Each school had one class for each grade, with 15 to 20 students in each grade.
Representatives from both schools commenced merger talks approximately three years before the actual merger. Every aspect of the merger was considered, discussed, and decided by consensus. It was decided that the Good Shepherd School facility would be used because it was in better repair. All other aspects of the merged school, such as representation on the School Board and parish subsidy payments, were equally divided. It was also decided that all teachers from both schools would be retained, and there would be two classes of each grade.
When the doors opened in September of 1992, there was an enrollment of over 250 students.
In August of 1998, Archbishop Harry J. Flynn released Holy Family Church from the merger agreement. While the name Parkvalley Catholic had served the school well for 13 years, in 2006, the school implemented a name change back to Good Shepherd School.