The Lanterns began play in the 2018–19 season as an expansion team, and were initially based in Angeles City before moving to San Fernando in 2022.

The Giant Lanterns are one of four teams based in Central Luzon, and is owned by the Provincial Government of Pampanga.

Pampanga first joined the Maharlika Pilipinas Basketball League (MPBL) as one of sixteen expansion teams for the 2018–19 season.

In the playoffs, the team first met with their Central Luzon neighbor Bataan Risers in the First Round, in which Pampanga beat in two games.

In between the 2022 and 2023 MPBL seasons, the Pampanga Giant Lanterns franchise made its way to the Pilipinas Super League for the 2022 DUMPER Cup.

Pampanga beat Santa Rosa and undefeated San Juan on their way to the finals against the Davao Occidental Tigers.

In time for the division quarterfinals, nine-time PBA champion Arwind Santos joined the Giant Lanterns.

[3] The team continued their dominance from the regular season by not losing a single game en route to the 2023 MPBL finals against the Bacoor City Strikers.

[4] The Pampanga Giant Lanterns became the first MPBL team to go undefeated throughout the playoffs, winning nine straight games.

Since their move to San Fernando in 2022, the team's home games are played at Bren Z. Guiao Convention Center.