The club was formed out of a school team of the Ivano-Frankivsk National Technical University of Oil and Gas.

On 17 July 2007, information was released to the media that FC Fakel Ivano-Frankivsk had been reformed into the FSC Prykarpattia.

The initiative came from the former president of the old Prykarpattya, Anatoliy Revutskyi who together with the mayor of Ivano-Frankivsk, Viktor Anushkevichus, the president of the FC Fakel, Evstahiy Kryzhanivskyi, and Andriy Romanchuk signed the documents of the establishment of the Football Sport Club Prykarpattya.

Ivano-Frankivsk Town Council and Limited liability company "Skorzonera" (owner of tourism complex "Bukovel") are club's founders.

[1][2] The club dissolved in the summer of 2012 and were expelled from the PFL when they were not included in the draw for the first round of the next season.