The team had early successes in the State Championship, finishing in third place twice during the 1930s.

The team is the successor to several smaller clubs from Yambol, namely Botev, Georgi Drazhev, Nikolai Lyskov, Partizan, Spartak, DNA, Red Flag, Victory and Glory.

In the 1960s, Tundzha became an established participant in the second tier, and they were often involved in the fight for the B Group title almost every season.

Tundzha had their best season in 1969–70, when they managed to finish first in the second tier and promote to the A Group for the very first time in the club's history.

Tundzha's first season in the A Group, 1970-71, ended with the team finishing in 13th position on the table, thus avoiding relegation.

One time the team fell into the Bulgarian V AFG, but again went back to the professionals.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.