The Rickenbacker 320 was introduced in 1958. It was one of the short-scale 300 series electrics (model numbers 310 to 325) with a 20.75" scale length, dot fretboard inlays, and small (12.75" wide) bodies. The body is unbound, semi-hollow (but without any sound holes). These short-scale 300 series models were designed as student models, but became popular when John Lennon played a Rickenbacker 325 during the early years of The Beatles. The 320 is the non-tremolo version of the 325 that Lennon played. The 320 was discontinued as a production model in 1994.

A limited number of 12 string 320s were made - the 320/12 model. Rickenbacker introduced a full scale length version of the 320 in 1985 called the 350 model.