The PBK was founded in February 1999 as the Bulgarian Communist Party "Georgi Dimitrov" (Bulgarian: Българска комунистическа партия "Георги Димитров, romanized: Bulgarska Komunisticheskaya Partiya "Georgi Dimitrov", BKP-GD) by the Initiative Committee for the Unification of the Communist Movement of Bulgaria.

In January 2000 it was joined by the United Communist Party of Bulgaria (Bulgarian: Българска единна комунистическа партия, Bulgarska Edinna Komunisticheska Partiya, BEKP).

[1] The party participated in the parliamentary elections of 1999 with the Alliance Coalition of Left Bulgaria which won 8,762 votes (0.2%) and no seats.

In 2014 it took part in the parliamentary elections on the List of the BSP – Left Bulgaria winning no seat.

The PBK publishes the newspaper Novo Rabotnichesko Delo (Bulgarian: Ново работническо дело).