The club was founded on March 17, 1919, by Alírio Gandra, Victor Miranda and Gabriel João Collares with the intention to develop rowing in Itajaí city.

In 2007, Marcílio Dias won the Copa Santa Catarina, thus qualifying to the following year's Campeonato Brasileiro Série C[8] and the same season's Recopa Sul-Brasileira.

[15] Marcílio Dias's home stadium is Hercílio Luz, built in 1921,[16] with a maximum capacity of 12,000 people.

[17] The club is named after the guerrilheiro da marinha Marcílio Dias, who fought in the Paraguayan War and died in the Battle of Riachuelo.

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