The club was founded in 1979 at Colegio Marista of Palencia, with the aim to support farm teams competing at provincial and regional tournaments.

The professional basketball team was created on 1997 and played during five years at Liga EBA before being invited to join the LEB Plata.

In 2014 Palencia Baloncesto was defeated by CB Tizona in the promotion playoffs finals to Liga ACB by 1–3.

Two years later, the club achieved the promotion by finishing as champion of the 2015–16 LEB Oro season and the Copa Princesa de Asturias,[1] but resigned to promote due to the impossibility to fulfill the requirements.

[2] CD Maristas Palencia had several denominations through the years: Note: Flags indicate national team eligibility at FIBA-sanctioned events.