The club was claiming its heritage to football team of Dzerzhynskoho Mine Administration that competed at republican level in 1956 and 1957.

Over the years in the Soviet competitions Kryvbas became a record holder for Ukrainian championship wins tying it at four along with SKA Kiev.

At the end of the UPL 2012–2013 season the team finished in 7th place, however, due to financial difficulties the club declared itself bankrupt in June 2013.

[2] In August 2015 FC Kryvbas was allowed to start at the mid-season of the Dnipropetrovsk Oblast Championship where it played 11 games winning four and losing five.

Kryvbas also became the first club in the history of Ukrainian football representing a city other than a regional administrative center.