The club was founded on November 11, 1920, and plays home games at Estádio Presidente Vargas, which has a maximum capacity of 23,000 people.

In 1967 América qualified as state champion of 1966 for participation in the Taça Brasil, the national championship competition of those days.

In October 1967 a crowd of 40,000 witnessed when América was eliminated from the competition after a 0–1 home defeat against Náutico from Recife.

After the state championship in 1935 América, alongside Flamengo, SC Argentino and Duque de Caxias, broke away from the league to establish, without lasting success, an alternative association.

The most remarkable player in the history of the club was José Ribamar de Oliveira "Canhoteiro", sometimes considered the left wing pendant to Garrincha.