[citation needed] The club claims to be a successor of Kyiv Arsenal factory team which traces its history back to 1925.

Due to the efforts of Ukrainian racer Oleksiy Kikireshko, the club was revived in 2014 as Arsenal-Kyiv and based in Shchaslyve[8] located right on eastern outskirts of Kyiv.

FC Boryspil was established on 9 March 1993 by Ukrainian geologist and entrepreneur Dmytro Zlobenko[12] (1961–2013)[13] along with his partner Ihor Kovalevych[14] and his science production firm "Geoton".

[15] Zlobenko managed to find ways in cooperation with local administrations of Myronivka and Boryspil raions (districts in the southeastern part of Kyiv Oblast).

[15] During the inter-seasonal break there were almost no changes made to the club's squad and coaching staff, except for a few players who went on to play for Borysfen Boryspil.

[17] Cooperation with the Muntyan's youth team gave certain preferences in signing several better players among which were Hennadiy Moroz and Vitaliy Pushkutsa.

The promoted Borysfen Boryspil managed to secure head coach services of Viktor Kolotov who along with Anatoliy Demyanenko joined the club coming from CSK ZSU Kyiv.

[15] Although in main games were obtained decisive home victories, and succeeded in tying with strong Naftokhimik in Kremenchuk, in a spring Borysfen changed a head coach, its squad and the club's name.

[15] At the end of 1993 FC Borysfen was negotiating with Valeriy Lobanovskyi who had his contract expired with United Arab Emirates (UAE national football team).

[15] Started out a bit shy with draws in the rows, the club managed to gain the champion's stride with only one loss in the second half and winning early the Druha Liha (Second League).

[15] Successes of the Boryspil club have done their job and Borysfen, that before its debut in the 1994–95 Ukrainian First League (Persha Liha) returned its previous name, a priori was considered among the season's favorites.

[15] For the new season Bezsonov shuffled his coaching staff inviting Yevhen Lemeshko, Ivan Terletskyi, and Viktor Chanov.

[15] The culmination came in September when the club lost to FC Dynamo-2 Kyiv 0:4 with the first goal has been scored by the unknown at that time 17 year old Andriy Shevchenko.

[15] During the 1994–95 winter break the Minister of Defense Valeriy Shmarov and Dmytro Zlobenko reached an agreement about uniting of efforts and creation of the club CSKA–Borysfen.

[15] At disposal of Boryspil partners there appeared a football "administrative resource" of the army allowing, for example, at once to "call" under the club's colours from FC Veres Rivne the most talented half-back Oleksandr Svystunov and the other side received financial rears that CSKA so lacked.

The optimal squad consisted of Vitaliy Reva, Mykola Volosyanko, Serhiy Diryavka, Serhiy Fedorov, Mykola Zakotyuk, Andriy Annenkov, Oleksandr Svystunov, Eduard Tsykhmeistruk, Oleh Pestryakov, Vitaliy Pushkutsa, Andriy Husin and was coached by Mykhailo Fomenko.

Dmytro Zlobenko was removed from the club which with help of the Army was passed to some businessman by name of Mikhail Grinshpon, a president of "Kyiv–Donbass".

[25] The army-men also managed to appear in the domestic cup's finals twice (1998 and 2001), where they lost both times: first against city-rivals Dynamo Kyiv and then against Shakhtar Donetsk.

The club's greatest achievements include a successful UEFA Cup run in the season of 2001–02, defeating the now defunct Finnish side Jokerit and Serbian giants Red Star Belgrade.

[27] After the 2000 financial crisis at CSKA, the club, as a state company of the Sports Committee of Ministry of Defense, had its budget cut and was on the brink of being dissolved.

[31][32][34] On 8 November 2001 the Kyiv City Council adopted the decision on the creation of the club and increase the constituent fund to 80% (₴9,440), while the other 20% (₴2,360) belonged to other members of the company.

Soon after election of a new mayor Leonid Chernovetskyi, the city had decreased funding to the club significantly as it sought to reduce its numerous sports holdings and on 13 July 2006 adopted a decision to sell it at auction scheduled on 14 November 2006 and starting at ₴1.1 million.

[41] In May 2007, it was announced that the club would be demoted due to financial issues, however soon afterwards it was revealed that Arsenal would be purchased by Ukrainian oligarch, Vadim Rabinovich.

On 20 January 2009 in the newspaper "Ukraynskyi futbol" appeared a "satirical" article about the club's purchase "There will be stadiums on Mars" (На Марсі будуть стадіони?!

[44] During the next month it was announced that Ukrainian oligarch Oleksandr Onyshchenko was ready to finance the club and claimed that he had paid all the debts.

[43] The next day general director Viktor Holovko announced that the club was filing for bankruptcy and withdrawing from competitions as it was unable to find any sponsors.

[48] But the next day Dnipro Dnipropetrovsk refused to (re)play the (16th round) match Arsenal had earlier failed to appear for (due to its bankruptcy).

[48] On 21 November 2013, the FFU Control and Disciplinary Committee adopted its decision to disqualify "Arsenal" in accordance to the regulation statement about failure to show for two calendar (scheduled) games.

[60] During the winter of 2018–19 FC Arsenal-Kyiv was involved in business conflict over its home base which is connected with the Russian financial institution Sberbank.

The team appeared once in the 2003–04 Ukrainian Second League serving as a junior (reserve) squad for the FC Arsenal Kyiv franchise.