It was founded in September 1921, and was modelled after the Communist Workers' Party of Germany.
It was founded at a conference in the city of Slivnu, a centre of the textile industry, from the 7th until the 10th January 1922.
The party had around 1000 members, and published Rabotchnik Iskra (Workers' Spark).
[1] The party was affiliated to the Communist Workers' International.
[2] The party was divided along the same lines as its German counterpart, with a Sofia-based faction close to the Essen group and the Varna-based faction close to the Berlin group.