Established on 12 December 1972 as the South Oakleigh Soccer Club, the club soon changed its name to Oakleigh Soccer Club, under which it gained steady success through the 1970s and 1980s by winning a number of Victorian Provisional, Metropolitan and State League divisional titles. The club was re-branded Oakleigh Cannons S.C. in the 1990s to expand its appeal beyond its predominantly Greek Australian support base. The club changed its name again to Oakleigh Cannons Football Club, gained promotion to the Victorian Premier League in 2003, and continued its successful run by appearing in the Championship finals of 2004 and 2005. It won its first Victorian Premier League Championship in 2006.
The Club is located at the Jack Edward’s Reserve, Edward Street, Oakleigh.
With the youngest ever VPL Coach and 2011 'VPL Coach of the Year' Arthur Papas at the helm Oakleigh Cannons F.C. finished equal first on points in the Victorian Premier League season and went on to make their first ever VPL Championship Final at AAMI Park, where the team lost 3-2 to Green Gully in extra time.
Papas departed at seasons end to join A-League side Newcastle Jets FC.