Torpedo Zaporizhzhia's best achievement in the Ukrainian Premier League was 7th place (thrice, in 1992 (prorated), 1994–95, and 1995–96).

However, despite this finish, the club applied for bankruptcy following the conclusion of the 1998–99 season and were suspended by the Ukrainian Football Association.

In early March 2000 in press media appeared information that the club may cease its operations because the Professional Football League of Ukraine received a letter from the club's president Serhiy Kharhenko which informed that the team is withdrawing from the 1999–2000 season due to lack of financing.

FC Torpedo Zaporizhzhia played its games at the AutoZAZ Stadium with maximum capacity of 15,000.

After relegation the team was renamed into ZIGMU-Spartak Zaporizhzhia and continued to play in regional competitions.