HS Cepelin was founded 25 December 1995 in Cetinje, Montenegro.

The senior team competed in the Second National League of FR Yugoslavia, group 'West', and in I and II Montenegrin leagues during the previous existence of the school.

HS Cepelin won the championship of the FR Yugoslavia with the Older Pioneers in 1999.

With the juniors team, HS “Cepelin-Lovćen osiguranje” became the Unofficial Champion of Yugoslavia in 2002.

Its cadets, who are under the name “Budvanska Rivijera” (Cepelin), won 27 of a total of 28 games in the 2008/09 season and won the Cadets League of Montenegro for the second time in a row in 2009/10.