After a dispute between the Dobbin group and the City of St. John's over the use of Mile One Centre, the Fog Devils announced in September 2005 they had secured a lease for the arena.

The Fog Devils entered into the QMJHL Expansion Draft in the early summer of 2005 to build the core of their team for the inaugural season.

Some notable players selected by the Fog Devils included Scott Brophy, Wes Welcher, Marty Doyle, Ilia Ejov, Olivier Guilbault, Pier-Alexandre Poulin, and Nicolas Bachand.

Shortly after, the team also participated in the CHL import draft, selecting Swedish prospect Nicklas Bergfors as well as countryman Oscar Sundh; however Bergfors only played a few exhibition games for the Fog Devils before spending the 2005–06 season as the youngest player in the American Hockey League for the Albany River Rats.

On December 17, 2005, in a game against the Cape Breton Screaming Eagles, Scott Brophy scored the first hat trick for the Fog Devils.

St. John's made the playoffs in their first season, earning the sixth seed in the East Division and finishing with a 30-34-5-1 record and 66 points.

The St. John's Fog Devils opened the 2006–07 season on September 15, 2006, at Mile One Centre against the visiting PEI Rocket in front of over 5800 people.

After much speculation that Pielmeier would stay in his native Germany to play in 2007–08, he agreed to move to the CHL and join the Fog Devils.

At the Fog Devils' first home game of the season on September 21 the team retired inaugural captain Scott Brophy's jersey number 12.

On November 9, Luke Adam set a new franchise record for scoring the most goals in a single game, with four against the visiting Maineiacs.

On the power play late in the game defenseman Maxime Pomerleau scored the game-winning goal with 0.7 seconds left on the clock.

As of 2019–20, five Fog Devils alumni have played in the NHL: Luke Adam, T.J. Brennan, Timo Pielmeier, Mario Kempe and Jake Allen.