It started in 2001 and played until February 2013, when it was discontinued for financial reasons.
The club entered its reserve team Obolon-2 into Ukrainian Second League (Druha Liha) for the following season.
During the winter break of the 2008-09 season the 2nd team was withdrawn due to a lack of funds.
[2] The team reformed as Obolon Kyiv Reserves and competed in the Ukrainian Premier Reserve League as the senior team was a member of the Ukrainian Premier League.
The senior club withdrew from the PFL in February 2013 due to a lack of funds.