Part of a larger sports branch, Dunav were established on February 16, 1949, as a merger of two local football clubs in the city, Dinamo and Rusenets.

Named after the Danube River, on the banks of which the city of Ruse is situated, the club plays its home matches at the local Gradski stadion, which has a seating capacity of 13,000 spectators.

Over the course of its history, the club carried a variety of different names such as Sava, Napredak, Levski, Varush, Angel Kanchev, Rakovski, Rusenets, Dinamo, Spartak, DNA, Torpedo and Partizanin.

The second half of the season started very well and the team was in a row with a couple of very significant wins, but they won only one game in their last 7 matches and eventually failed to gain promotion to the top flight.

Dunav subsequently withdrew from the B Group in February 2011, after being unable to reduce its financial debts to the municipality and a majority of its squad players.

In 2011, Dr. Simeon Simeonov established a new entity under the name Dunav 2010, which was approved by the BFU to start from the lowest levels of Bulgarian football.

During the winter break of the 2019–20 season, Dunav owners stated that the team might face administrative relegation if a new income source is not provided on time.

[3] In 2017, they managed to secure a spot in the first qualifying round of the Europa League after a prolonged period of European absence, but were eliminated by Irtysh Pavlodar after an overall 0–3 loss in both legs.