First mentioned in a document in 1258, in the Middle Ages Waldreichs belonged to a ring of fortified castles that were built to protect the Austrian Mark.
Nothing remains of the original moated castle.
In the area around Waldreichs Castle, the imperial master falconer and feudal knight Hanns Hager resided and dined from and to Allentsteig and Lichtenfels.
After multiple changes of ownership and the threat of decay, the current owner, the Windhag Scholarship Foundation for Lower Austria, began to completely renovate the castle in 1983.