The Gibson Electric Bass, was first introduced in 1953 as a response to the successful the Fender Precision Bass. The body design was based on a double bass with f-holes painted on. As a concession to upright bass players, the EB-1 had a telescopic end pin spike that allowed bassists to play the EB-1 in the upright position It was made until 1958 when it was replaced first by the EB-2 and then by the EB-0. The Electric Bass was renamed as the EB-1 in 1958 (from 1953 to 1958 it was simply the Gibson Electric Bass), to separate it from the newly introduced EB-2.

The EB-1's single pickup was mounted at the end of the neck giving the EB-1 a deeper tone than the Fender Precision, the electronics were was designed to emulate the upright bass tone that most bass players of the period were familiar with.

Gibson reissued the EB-1 in 1968-1972, and again in 1999. The 1968 reissue did not have the false f-holes. Other changes included standard right-angled tuning machines, and an extra chrome bridge cover. The 1999 reissue, was a Korean made Epiphone model with a bolt on neck.

The EB-1 was not a big commercial success in the 1950s but is sought after today by collectors as the first Gibson Solid body bass - some sell for over $6000.