Founded on 12 October 1903, it is one of the oldest and one of the most successful in the country, with eleven Primera División titles, and has never been relegated to a lower division.

The mentioned colors were also used by English privateer Francis Drake in his emblem and shield, which is another reason why they were chosen to represent the club.

[1] Guaraní is one of the traditional teams from the Paraguayan football league and during their history they have won a total of ten championships and were runners-up in fourteen occasions.

[citation needed] In late May 2010, Guaraní became champions after 26 years after defeating Olimpia in a match that ended 2–1 to clinch the 2010 Apertura title.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.