Paralee Watkins Compton School was built in the mid 1950s to replace South Market Street School, which had stood since 1896. It was formerly named for James W. Lathrop (1791-1826), who was called the "Father of the Public School System in Ohio" and who moved to Canton in 1816. His body lies in the Masonic lot in Westlawn.

Richard Dowding was the last principal of South Market Street School and the first principal of Lathrop. When the building was dedicated in October 1956, the gymnasium and auditorium were named in honor of Dr. Mantle B. Williams, who served the southeast community as a doctor and a leader in seeking better conditions for the people of the neighborhood. His daughter, Marian Crenshaw, eventually served as an educator with the Canton City Schools.

On October 16, 2004 in a special dedication ceremony, the school was renamed in honor of Paralee Watkins Compton. Paralee Compton has worked for Canton City Schools for almost 50 years as secretary, teacher, School/Community Liaison, principal of Martin Elementary School, Director of Human Relations, Director of Elementary Education and Director of Instruction and Staff Development K-12, and the district’s first woman and first black assistant superintendent.  She is a product of Canton City Schools and a graduate, with honors, from Timken Vocational High School class of 1949. 

Throughout her career, Mrs. Compton has been a guiding force in education reform and teaching methods. She retired in 1993.  In 2000, Mrs. Compton came out of retirement to coordinate GEAR UP, a college prepatory program beginning with Canton City middle school students, taking them on through high school getting them ready for college.

As part of the Design for the Future building program, the school was remodeled during the 2003-04 school year.