Founded in 1999, the club played its inaugural season in the now-defunct fourth-tier Lithuanian Basketball C League (LKCL).

[3] The perfect BC "Pieno žvaigždės" season finished very unsuccessfully as they lost the third transition series game against Naglis by only one point with result 68:69.

In the 2014–15 LKL season, Pieno žvaigždės were just one step away from defeating Juventus in the quarter-finals, losing the fifth series game by 8 points.

[9] Juventus later played in the LKL bronze final and surprisingly defeated Euroleague participant BC Neptūnas there.

[11] University of Florida standout Dennis Mavin and Khimik star Ramone Moore strengthened the team roster in the summer of 2015.

[12][13] The team advanced into the second stage of the FIBA Europe Cup by clinching the second place in the group and surprisingly leaving the last season's Polish champions and Euroleague participants Turów Zgorzelec shocked.

Pieno žvaigždės resigned Steponas Babrauskas and signed Vyacheslav Bobrov, who quickly became the team leader.

They faced BC Neptūnas, one of the top teams in Lithuania for the past years, and gave a good fight, losing the series 1:3.

For the first half of the season, Pieno žvaigždės played a largely unspectacular basketball, led by Emmanuel Omogbo.

Many players were released, with Yannick Franke, Jay Threatt and the returning Žygimantas Skučas being signed to improve the team.

Pieno žvaigždės went on an amazing run during December–March, winning 12 of the next 15 games in the LKL, and climbing up to 4th place in the standings, with a 16–11 record.

In the 2022-2023 season, under coach Ramūnas Cvirka, even with strong play from the returning John Gillon, Jared Cunningham, Rihards Kuksiks, Martynas Pacevičius, Corey Allen-Williams, Evaldas Šaulys and Julius Jucikas, Pieno žvaigždės finished only 10th.

Even with a new head coach in Aurimas Jasilionis, and strong play from Brandon Tabb (who left during the season), Kadeem Jack, Jordan Watson, Simas Jarumbauskas and Martynas Arlauskas - Pieno žvaigždės finished 11th - last place in the LKL.

On 15 July 2024, Pieno žvaigždės announced its withdrawal from the upcoming 2024–25 LKL season, after being unable to meet the financial requirements of the league.