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Sigma Lambda Beta (ΣΛΒ) International Fraternity, (also known as Lambda-Betas or Betas) is the largest historically Latino Greek letter intercollegiate fraternity. Founded on April 4, 1986 at the University of Iowa City, Iowa. The fraternity is a member of the National Association of Latino Fraternal Organizations (NALFO), the North-American Interfraternity Conference (NIC), and the Fraternity Leadership Association. Historically a Latino based fraternity, Sigma Lambda Beta welcomes men of all cultures into its brotherhood. Its principles are brotherhood, scholarship, community service, and cultural awareness.

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When the United States saw a major increase in Latinos during the 60's, 70's, and 80's, and when Latinos began to penetrate the middle class it was apparent that the Latino Greek movement would be eminent. Around this time frame, many college students came to the realization that fraternities and other organizations catering to the needs of Latino students was becoming increasingly necessary.

During the early Spring 1986 semester, Baltazar Mendoza-Madrigal along with seventeen other men began to explore the idea of establishing a Latino based Fraternity at The University of Iowa. Baltazar Mendoza-Madrigal wanted to create something that was suited for Latinos. After months of intensive research, Baltazar Mendoza-Madrigal began the creation of a new Latino-based fraternity. Baltazar Mendoza-Madrigal called a special meeting on Monday, March 7, 1986 with some of the Latino students at the Chicano Indian American Cultural Center at The University of Iowa. The purpose of the meeting was the discuss the need and feasibility of creating a new social Fraternity with an emphasis on the Latino Culture.

At that point in time, the student body at The University of Iowa was predominately Caucasian. In addition, the Latino community on campus was divided into different social groups. As a result, the students who attended the first meeting wanted to solidify and unify the Latino and the multicultural community. Futhermore, the students wanted to promote a positive image of Latinos and minorities at the University.

After the first meeting, the enthusiasm in favor of the Fraternity was so encouraging that the word spread throughout the University of Iowa. Everyone knew that something special was about to take place. On Friday, April 4, 1986, the members finalized the philosophy of the Organization. Hence, April 4, 1986 is the official founding date of the Fraternity.

The Eighteen Founding Fathers (15 Latinos, one African and two Asian) established Sigma Lambda Beta with the following principles in mind: Brotherhood, Scholarship, Cultural Awareness and Community Service.

Sigma Lambda Beta has grown to over 83 chapters and 15 colonies. In addition to 18 Alumni Chapters. Chapters can be found in more than 25 U.S. states and in Puerto Rico.

The fraternity also started its own official publication called Rego Magazine which is published quarterly and is distributed to US college campuses.

Sigma Lambda Beta became "Coast to Coast" in the Spring of 1992 with the expansion to SUNY-Stony Brook (Pi chapter) and the California State University-Dominguez Hills (Tau chapter). Sigma Lambda Beta has now grown to have presence in every region of the United States.

In March 1997, the fraternity was granted 501(c)(7) status by the IRS.

Sigma Lambda Beta became one the charter memebers of the Latin Fraternal Council (LFC) in the Spring of 2000.

Sigma Lambda Beta has two national philanthropies, The Victor Correa CPR Awareness Day and the Collegiate Leadership Development Program.