FC Shirak was founded in the city of Gyumri in the Armenian SSR, in 1958. During the 1970s, the club played under the name Olympia. They were playing in the Soviet First League until Armenia's independence in 1991. The club's home ground is the Gyumri City Stadium with a capacity of around 3000 spectators.
FC Shirak is one of the oldest football clubs in Armenia and has produced many talented players who have represented the Armenian national team with Artur Petrosyan and Harutyun Vardanyan being the most notable players in the club's history. Both of them had gained enviable reputation as talented players and went on to play for the Armenian national football team and several European clubs.
The club is the second most titled team in the country, having won 4 championships, 1 cup title and 3 super-cups. The club had struggled financially between 2005 and 2010. In 2012 FC Shirak won Armenian Independence Cup for the first time in their history.