BC Kyiv was founded in 1999. The Club's founder and 1988 Olympic gold medalist Alexander Volkov was only the first Ukrainian player to join the NBA in the late eighties, and also has become the godfather of Ukrainian basketball.

BC Kyiv joined the Ukrainian Superleague in the 1999-00 season, and also got a spot in the 2000 Korac Cup. With Stanislav Medvedenko on the roster, (he later went on to win two NBA Titles with the Los Angeles Lakers) the team won the Ukrainian Superleague and reached the Korac Cup round robin.

BC Kyiv has stayed competitive ever since, becoming one of the best and perhaps the most popular team in Ukraine. One of the most successful seasons for the Club was 2005/2006 when players like Lamarr Greer, Marcus Norris, Marcelo Nicola, Ioannis Giannoulis were on the team. The head coach at the time was Italian specialist Renaro Pasquali. He lead Kyiv to the silver medals of FIBA Eurocup and a title in the Ukrainian Superleague.

The following season the Wolves, (Kyiv's unofficial name), again advanced into the FIBA Eurocup Final Four, which they got a chance to host, once again getting a set of medals - this time bronze.

Last season Kyiv added one more trophy to the collection- Ukrainian Cup. BC Kyiv is regarded as one of Europe's top clubs in the area of marketing and management. The organization of the 2005 FIBA Europe League All Star Game and the 2006 FIBA EuroCup Final Four are the best examples of the team's professionalism.

Kyiv now takes yet another step forward, being the first Ukrainian team to join ULEB.