Karpaty club was founded on January 18, 1963. In 1968 they were included into new created Soviet First League. On August 17, 1969, Karpaty became the first (and the only) club in the USSR football history which won the USSR Cup while playing in the Soviet First League.
In 1970–1977 and 1980, Karpaty played in the Soviet Top League. Karpaty's best achievement was 4th place in 1976. In 1982 the club was dissolved by voluntary region communist party committee’s decision but in 1989 after strong public support Karpaty were renewed starting from the bottom of Soviet football league.
Since Ukraine gained its independence, Karpaty have primarily participated in Ukrainian Premier League competitions. They have taken 3rd place once 1n 1997/1998 season and twice were Ukrainian Cup runners-up, losing both times to Dynamo Kyiv in the final.
In the seasons 1970/71 and 1999/2000 Karpaty were participating UEFA Cup Holders Cup and in the seasons 2010/11 and 2011/12 - UEFA Europa League competition advancing to the group stage in the first of those seasons.
Karpaty football schooling is considered one of the best in Ukraine, every year joining top 3 places in different age group competitions of Child-and-Youth Football League of Ukraine and delegating over 10 its players to different Youth National teams of Ukraine.
Karpaty 2001 team coming to Budapest finished the 5th in the Championship of Ukraine 2016/2017 season in its age group. 3 team's players are the members of Ukraine's National team U-17.