The club was founded on 2 January 1921, by sportsmen from the Italian colony of Belo Horizonte as Società Sportiva Palestra Itália.

As a result of the Second World War, the Brazilian federal government banned the use of any symbols referring to the Axis powers in 1942.

Cruzeiro is one of the two Brazilian clubs to complete the Domestic Treble, a feat accomplished in 2003 after winning the Campeonato Mineiro, the 2003 Copa do Brasil and the 2003 Brasileirão.

It has contributed many key and famous players towards Brazil's FIFA World Cup squads such as Wilson Piazza, Tostão, Nelinho, Ronaldo, Luisão, Alex, Maicon, Cris, Dida, Jairzinho, Rivaldo and Edílson among many others, as well as towards other countries' FIFA World Cup squads, including Roberto Perfumo and Juan Pablo Sorín from Argentina, and Giorgian de Arrascaeta from Uruguay.

In the sporting goods and footwear Augustine Ranieri's factory, located on the street of Caetés, it was decided the foundation of the club should tackle the three major capital: Atlético Mineiro, America-MG and Yale.

[5] The meeting was attended by 95 founders present the shield and uniform that made reference to the Italian colors, and whose SSPI description would be recorded in the center shell.

And is characterized as a team of Italian descent, Palestra also stood out by having elements of the Belo Horizonte working class, unlike Atlético and América, who had their consisting squad of college students coming from influential and wealthy families of the city.

[5] The idea of the club being created took a big step when Yale, a sports team from the city, went through an administrative crisis.

[6][7] Until 1925 the club would only allow Italian men to participate, despite other teams in the nation accepting people of all skin colors and ethnicities.

[8] Palestra debuted in the Prado Mineiro Stadium with a 2–0 win in a friendly on 3 April 1921, against a combination from Nova Lima.

[10][11] In January 1942, Brazil entered World War II[12] and a decree of the federal government forbade the use of terms from enemy nations in entities, institutions, establishments, etc.

Around six months later, the president Ennes Cyro Poni called a general assembly for 7 October and suggested the name Ypiranga.

Yale and Ypiranga were suggested, but Cruzeiro Esporte Clube was chosen to honor the biggest symbol of Brazil, the constellation of Crux.

With 100 points earned during the season, and just over 100 goals scored in 46 matches, it was one of the most successful campaigns ever by a club in a Brazilian championship.

However, the club finished in the top five of the Campeonato Brasileiro in 2007, 2008, 2009 and 2010, guaranteeing a spot in the Copa Libertadores for four consecutive years (2008, 2009, 2010 and 2011).

In 2010, after a great campaign in the Campeonato Brasileiro Serie A, Cruzeiro took the second place and qualified for the Copa Libertadores da America for 2011.

Cruzeiro's biggest success in recent years was reaching the finals of the 2009 Copa Libertadores, but they lost to Estudiantes de La Plata 2–1.

[22] After a disastrous 2011 season, escaping relegation only in the last round after a triumphant 6–1[23] against arch-rival Atlético, Gilvan Tavares became president for the 2012-2013-2014 triennium.

In the Copa Libertadores da America, Cruzeiro was knocked out, in the quarter finals, by future champion San Lorenzo de Almagro, being the last remaining Brazilian team in the competition.

Cruzeiro used this kit in their first professional game on 3 April 1921, in the Prado Mineiro Stadium, with a 2–0 win over the Villa Nova/Palmeiras combined team, of Nova Lima.

[28] The following year, 1922, the club's crest maintained its rhombus shape, but was now completely white, with the letter P, S and I, inscribed within it in green.

The club's anthem, Hino ao Campeão, was written by Jadir Ambrósio in 1966, in homage to the team of his heart.

"[30][31] In the 2000s, Cruzeiro has made the Raposão (Big Fox) its biggest mascot, appearing at all home games and cheering with the crowd while wearing the club's colors.

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

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

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

The fifth overall player, and second goalkeeper with the most appearances for Cruzeiro is the notorious Raul Plassman, who played a total of 557 games with the team.

Ninão holds the record for goals scored in a single match: 10 in Cruzeiro's 14–0 win over Alves Nogueira during Campeonato da Cidade on 17 June 1928.

Named after former Minas Gerais governor José de Magalhães Pinto, it took over 4,000 workers to build the stadium.

[52] The Mineirão was selected as a host stadium for the 2014 FIFA World Cup,[53] with renovations beginning on 25 June 2010, and projected to be completed by December 2012.