In 1986, led by coach Simi Riger, the team advanced to the Premier League, after five consecutive years in the second division.

[1] In 1996 and 1997, Hapoel Jerusalem won the Israeli Basketball State Cup, defeating Maccabi Tel Aviv in the finals, at the Yad Eliyahu Arena.

[1] In 2004, Hapoel Jerusalem won its first European title, the ULEB Cup (EuroCup), defeating Real Madrid in the final in Charleroi, Belgium.

[1] As a result, the team became stronger and signed four American players with NBA records – Tamar Slay, Horace Jenkins, Roger Mason, and Mario Austin, as well as Israeli star Meir Tapiro.

[1] In early 2008 Hapoel Jerusalem came back from being 22 points down in the 4th quarter, to win its fourth State Cup, beating Maccabi Tel Aviv 93–89.

[1] In September 2009, oil tycoon Guma Aguiar became the team's sponsor and helped pay debts left by Gaydamak.

[1] One year after the mysterious disappearance of Guma Aguiar, in 2013 a new ownership group headed by entrepreneur Ori Allon took over.

[7][8] In his first season with the team he helped it win the Israeli Basketball League Cup, defeating Maccabi Tel Aviv.

[1][11] On June 1, 2023, Matan Adelson purchased a 90% stake of the club for $20 million, with the remaining 10% held by the Hapoel fan association.

Due to its vast size, the Pais Arena has brought Israel's largest basketball rivalry to a whole new level.

This gives a boost to players towards the end of the game when they need it most, according to the former head coach of Hapoel Jerusalem, Oded Kattash.

Former Mayor of Jerusalem, and Prime Minister of Israel, Ehud Olmert, proposed the master plan for the arena in 2004, and it took ten years to build.