During the Axis occupation of Greece between 1941 and 1944, Aris changed its name to Black Eagle (Greek: Μαύρος Αετός) which was more of a reference to the glory history of Byzantium and it continued to play unofficial matches mainly in the open space in front of Saint Nicholas church in Larissa.

Moreover, the club's name change could be considered as symbolic part of the ongoing Greek Resistance and the football activities gave an opportunity to its players to meet and exchange information without being suspicious by the German authorities.After the end of the occupation, Black Eagle became Aris again and though it was financially weak resumed operations in 1945.

In 1947, Aris was just about to be dissolved after not being able to find any financial sources, but then it was when Giorgos Ziazias came, a fierce supporter who took over as a chairman to sponsor, to organise and save the club from its demise.

On 30 March 1950, Aris beat Greek champions Panathinaikos by 3–2 in a crowded Alcazar Stadium with forward Kostas Aeris scoring all three goals.

In June 1964 Aris agreed to give its best players to the new club of the town AEL: Giorgos Voutsilas, Passas, Mponitsis, Zafeiropoulos, Tasos Aprilis.