The club would have likely won several more Greek championships during the 1940s, but could not because the league was temporarily disbanded because of World War II.

In the early 1950s era, the team was called "The Golden Five" ("Chrysi Pentada" in Greek), or "The Fabulous Five".

[1] "The Golden Five" consisted of Themis Cholevas (PG), Dinos Papadimas (SG), Mimis Stefanidis (SF), Panos Manias (PF), and Aristeidis Roubanis (C).

Panellinios then won the 1955 Brussels Tournament, by defeating the Yugoslav League club Red Star Belgrade in the final, by a score of 91–67.

Panellinios also won the 1956 San Remo Tournament, by defeating the Italian League club Virtus Bologna, by a score of 67–37.

The club was eliminated from the competition, after losing its series against Steaua SA Bucarest 2 games to 0, by scores of 63–60 and 75–72.

The team stayed in the top tier Greek basketball division for 23 consecutive seasons, starting in 1963, when the league was re-formed into a new format.

In the 1970–71 season, Panellinios player Paraskevas Tsantalis, scored 73 points in a Greek Basket league game against Panionios.

In 2007, the club finished in 5th place in the league, with players such as Mamadou N'Diaye, Michalis Pelekanos, Gary Trent, and Anthony Goldwire.

The team lost to Panionios in the playoffs, but in finishing 5th in the Greek League, qualified for the new European 2nd tier level EuroCup competition, for the first time in club history.

The club plays its Greek League home games at Panellinios Indoor Hall, a small arena with a capacity of 1,800 seats.

[10] Giousmas, Pitsinos, Dimitris Lekkas, Karatzalis, Kaketsis, Savvidis, Papaioannou, Adamopoulos, Kondulis [13] Note: Flags indicate national team eligibility at FIBA-sanctioned events.