The PCPV was constituted in 1976, a year after the death of Francisco Franco, during the Spanish transition to democracy.

Its first general secretary was Antonio Palomares, a communist leader who had fought against Francoist Spain.

Nevertheless, García was in minority in the Executive Board, and had to resign, being replaced by José Galán until the 3rd Congress, which elected Juan Villalba as general secretary.

As Villalba stood by Santiago Carrillo when the latter left the PCE, the PCE leadership requested the summoning of a 4th PCPV Congress in 1985, one which elected Pedro Zamora as general secretary in a vote that excluded Carrillo's followers.

After the fall of the Soviet Union, some members of the PCE stood for its dissolution and the conversion of the United Left (IU) coalition into a new political party.