Besides the European championship title in 2017,[3] which was secured by a convincing 80–64 win against Greek powerhouse Olympiacos in the final, Fenerbahçe have also been EuroLeague runners-up in 2016 and 2018.

Many memorable players in European basketball have played for Fenerbahçe over the years, some of which have included: Šarūnas Jasikevičius, Žan Tabak, Conrad McRae, Nemanja Bjelica, Ömer Aşık, Thabo Sefolosha, Linas Kleiza, Ömer Onan, Mirsad Türkcan, David Andersen, Harun Erdenay, Damir Mršić, Bojan Bogdanović, Semih Erden, Mahmoud Abdul-Rauf, Tanoka Beard, Nikos Zisis, James Gist, Gordan Giriček, Mike Batiste, Marko Milič, Will Solomon, Bo McCalebb, Ekpe Udoh, Pero Antić, Luigi Datome, Nikola Kalinić, Kostas Sloukas, Jan Veselý, Ali Muhammed, Nicolò Melli, Bogdan Bogdanović, Nando De Colo, and Boban Marjanović.

Eventually, under the initiative of Muhtar Sencer and Cem Atabeyoğlu, it was founded in its current permanent form in 1944 and achieved considerable success when the sport established itself in Turkey.

Fenerbahçe, who dominated the sport with notable players of the period such as Altan Dinçer, Sacit Seldüz, Hikmet Vardar, Erdoğan Karabelen, Yılmaz Gündüz and Mehmet Baturalp under the leadership of memorable coach Samim Göreç, became champions of the Istanbul Basketball League in 1954–55, 1955–56, and 1956–57.

By defeating their rivals Galatasaray 55–47 on February 5, 1955, which was the first basketball game broadcast live on radio in Turkey, Fener celebrated their first championship.

As these teams belonged to notable corporations with a solid financial background and support, traditional sports clubs such as Fenerbahçe had difficulties keeping up with them.

Fenerbahçe finished the league leader three times with stars such as Erman Kunter, Aytek Gürkan, Can Sonat, Ferhat Oktay, Pete Williams and Larry Richard in the seasons 1984–85, 1987–88 and 1989–90, but was eliminated in the playoffs.

Erman Kunter broke the record by scoring 153 points in a game of the 1987–1988 season, in which the yellow-navy blues team beat Hilalspor 175–101.

Levent Topsakal, Larry Richard, Hüsnü Çakırgil and head coach Çetin Yılmaz led Fenerbahçe to the Turkish League title over Tofaş.

[9] Fenerbahçe Ülker headed into the 2010–11 season with five new transfers: Engin Atsür, Šarūnas Jasikevičius, Marko Tomas, Kaya Peker, and Darjuš Lavrinovič.

[10] After two disappointing seasons, in 2011–12 and 2012–13 where Fenerbahçe Ülker finished in fifth place in the Turkish league, legendary coach Željko Obradović was then signed as the team's head coach, and the roster was strengthened with the likes of former Toronto Raptor Linas Kleiza, promising power forward Nemanja Bjelica, consistent center Luka Žorić, and hot Turkish prospects Kenan Sipahi and Melih Mahmutoğlu.

[19] Domestically, the Yellow-Navy Blues defeated rivals Anadolu Efes in the 2019 Turkish Cup final to claim their sixth title.

In the Turkish Super League, Fenerbahçe once again made the finals - however, in an upset, they were again defeated by Anadolu Efes in a seven game series.

Fenerbahçe managed to win the 2020 Turkish Cup by beating Teksüt Bandırma in the quarterfinals, Türk Telekom in the semifinals, and Darüşşafaka in the finals.

Fenerbahçe underwent many changes during the post season, though managed to keep top players like Vesely and De Colo on the roster.

In the EuroLeague, Fenerbahçe struggled, and for the first time since the 2013-2014 season, failed to make the playoffs - finishing in a disappointing 12th place, and coach Đorđević suffered much criticism.

Afterwards, Dimitris Itoudis was signed in and in the Turkish Super League, Fenerbahçe got their revenge - they finished over Efes in the regular season standings, earning home-court advantage for the playoffs, and made the finals - in the finals, Fenerbahçe beat Anadolu Efes 3-1 to win the championship, their record breaking 10th Turkish League championship.

In the first match of the semi-finals of the 22-23 Basketball Super League Playoffs, Fenerbahçe Beko defeated Anadolu Efes by 108-66, with a difference of 42 points.

The first Final Four participation in the history of the club followed some years later, in the 2014–15 season, when the team eliminated reigning European champions Maccabi Tel Aviv in the play-offs with three straight victories under the guidance of legendary coach Željko Obradović.

In the next season, the club reached the final of the competition with a convincing overall performance, again by eliminating the reigning champions (Real Madrid) with three straight wins, and lost dramatically against CSKA Moscow in overtime.

Then eventually, in 2017, Fenerbahçe managed to win the EuroLeague trophy as the first and only Turkish club ever, in their own city, by defeating Greek giants Olympiacos in the final game with a score of 80–64.

From the quarter-finals onwards, the club eliminated their opponents in dominating fashion, first sweeping Greek giants Panathinaikos Superfoods with 3–0 wins despite the home-court disadvantage, and then defeating European powerhouses Real Madrid and Olympiacos with being behind only for a few seconds in total in the Final Four in Istanbul.

On 5 October 2012, Fenerbahçe became the first and only Turkish basketball club to win against an NBA team, having beaten the Boston Celtics by a score of 97–91 at the Ülker Sports Arena.