Ülkerspor was founded in 1975, but its basketball department was created in 1993, by buying a Turkish Super League spot from Nasaş.

The club have won four Turkish League titles in 1995, 1998, 2001, and 2006, with greats including Harun Erdenay, İbrahim Kutluay, Michael Anderson, Orhun Ene, Kevin Rankin, and more recently, Mirsad Türkcan and Serkan Erdoğan.

The first major success for the club was in the 1995–96 FIBA European League when Ülker managed to reach the Quarterfinal Playoffs and was eliminated by FC Barcelona (the subsequent competition's finalist).

Ülkerspor had its best finish when surviving a tough Top 16 group to make the Euroleague 2004–05 season Quarterfinal Playoffs, where it lost against CSKA Moscow.

[citation needed] Note: Flags indicate national team eligibility at FIBA-sanctioned events.