This club was founded on May 12, 1918[1] to serve the central plateau in the northern region of Rio Grande do Sul.

In 1980s the club played in the first division of state league, but, lacking sponsorship, generally finished in the middle rankings.

While the club had historically weathered such downsizings in the past, the 2000 difficulties resulted in the loss of access to their stadium.

Lacking municipal support and facing mounting debts, the club folded in 2005.

Gaúcho's principal rivalry is with Esporte Clube Passo Fundo, against whom they play in the "Planalto Médio Derby".