Rayo Vallecano established its women's team in 2000, absorbing local club CD El Buen Retiro.

This first trophy was followed by three championships in a row until 2011, becoming the second team to achieve this after Athletic Bilbao.

Rayo Vallecano thus took part in the first three editions of the UEFA Women's Champions League after its relaunch in 2010.

In 2022, they relegated to Primera Federación for the first time after spending 19 years on the top league.

Note: Flags indicate national team as defined under FIFA eligibility rules; some limited exceptions apply.