Olimpija basketball club was founded in 1946 as a section of the Svoboda Physical Culture Society.

Olimpija won its first Yugoslav League title in the 1957 season under the direction of the coach/player Boris Kristančić.

A new era for the club began with Slovenia's independence when Olimpija won eight consecutive league titles between 1992 and 1999.

The team's first venue was Tabor Gymnasium, before they moved to the 4,500 capacity[5] Tivoli Hall in 1965.

A total of 16 former Olimpija players have played in the NBA: 1993–94 FIBA European Cup Key