The Montenegrin Olympic Committee regards its foundation date as 13 December 1993, when the organization was established as the top association for Olympic sports in the Republic of Montenegro, a federal state within the Federal Republic of Yugoslavia created in February 1992 as a successor state to SFR Yugoslavia.

From 1993 to 2006 it was a regional organization for sports in Montenegro, under the auspices of the Belgrade-based Yugoslav Olympic Committee (IOC code "YUG").

During this period, in February 2003 the country was reorganized as a confederacy and renamed Serbia and Montenegro, with the top Olympic committee also renamed Olympic Committee of Serbia and Montenegro (IOC code "SCG").

Following the May 2006 independence referendum, which saw Montenegro become a sovereign country, Montenegro's Olympic Committee (COK) was recognized as the 204th national member of the International Olympic Committee on 7 July 2007 at the 119th IOC session in Guatemala City, with the new assigned IOC code "MNE".

Prior to independence, COK had established its award for the best young male and female athletes of the year and the best women's and men's team in 1999.