[1] This signified the revival of the club and Asteras Tripolis managed to compete in the inaugural season (1939–40) of the regional Arcadian League.

AOT's function was based in Asteras Tripolis' statute and the new club continued its activities until 1968, when it was dissolved once again and was subsequently merged with Arkadikos to form Panarkadikos.

At 2001 the club entered a new era and led an outstanding streak of performances under the leadership of Dimitris Bakos and Giannis Kaimenakis.

Asteras Tripolis made a spectacular start in their first season in Super League, under the technical leadership of Paulo Campos.

Asteras Tripolis became the first and only newly promoted Super League team that managed to beat Olympiacos, Panathinaikos, PAOK (home and away) and AEK Athens in its first ever appearance in the top division.

It is remarkable that the team of that season made Asteras Tripolis popular in Greek fans as "Boca" because of its Argentinian players (Lucio Filomeno, Horacio Cardozo, Mauro Milano, Israel Damonte, Carlos Massara etc.)

Coach Paulo Campos left Asteras Tripolis on 24 February 2008[4] with assistant manager Panagiotis Tzanavaras taking over for the rest of the 2007–08 season.

[7] Despite the unfortunate results in Super League, the team managed to remain focused on the goal of the Greek Cup, reaching the semi-finals for the first time in its history, where finally eliminated by Olympiacos.

In the 2010–11 season, after some wrong player choices and a disappointing 2nd round, Asteras Tripolis dealt relegation hammer blow.

The season completed with another participation of the club in Greek Cup semi-finals, in which the team eliminated after an exciting 2nd leg match against Atromitos in Tripoli.

[9] However, the highlight of the season was the outstanding road of the team, under the technical leadership of Sakis Tsiolis, to the first Greek Cup final in club's history.

[10] In the 2014–15 season, Asteras Tripolis took another step ahead in European level, reaching the 2014–15 UEFA Europa League group stage for the first time in club's history, after a streak of qualifications against RoPS, Mainz 05 and Maccabi Tel Aviv.

Also, the main striker of the squad, Jerónimo Barrales, emerged top goalscorer in 2014-15 Super League Greece.

The statue, located in Areos Square since September 1971, was made to present Theodoros Kolokotronis in battle and his bones are kept there.

After the team's promotion in the Football League in 2005, the stadium was renovated and its capacity expanded, including the east stand, which also houses the club's offices, a gym and changing rooms, a lounge, etc.

In 2007, with the rise of Asteras Tripolis in the Super League, the western theater was built, housing the journalists and VIP posts, and a small square on the south side was also added for use mainly by the fans of the hosted team.

In 2015, on the occasion of the Asteras Tripolis team's participation in the Europa League (2015–16) groups, for the second time in its history and the second consecutive parallel but also the fourth consecutive year of the group's presence in general (the first two only in the qualifiers), several remarkable renovations were carried out on the stadium, mainly in its interior, such as changing rooms and the press room, etc.

[11] On 27 November 2011, in the match between Asteras Tripolis and Olympiacos for the 11th season of the championship (2011–12), the spectators arrived at the stadium with 6,150 tickets.