BCP(L) was founded in Calcutta in the fall of 1971, by several small communist splinter factions.
The core of founders of BCP(L) consisted of Kazi Zafar Ahmed, Rashed Khan Menon and Haider Akbar Khan Rono from the Communist Samanay Kendra, Amal Sen and Nazrul Islam from Communist Sanghati Kendra and Nasim Ali from the Hatiar group.
BCP(L) had a close link with the Communist Party of India (Marxist) from its foundation.
In 1979 Kazi Jaffar Ahmad left the party and joined Ziaur Rahman.
In 1980, on the 102th birth anniversary of Iosif Stalin, BCP(L) merged with some other groups and formed the Workers Party of Bangladesh.