BC Kyiv was founded in 1999 by the 1988 Olympic gold medallist Alexander Volkov, who had been the first Ukrainian player to join the NBA in the late 80-s. Former players Vitaliy Khomenko, Alexandr Salnikov and Galina Melnichenko also took active part in founding the team.

Alexandr Kovalenko became the club’s first head coach and during its first season it participated in the Cocac Cup, NEBL and the Ukrainian Superleague. With Curtis McCants and 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, reached the Korac Cup round robin and the NEBL Final Four.

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, in its inaugural season of the ULEB Cup.