It was founded in 1935 as Storhamar AIL, a workers' sports club which was a member of Arbeidernes Idrettsforbund. The district Storhamar was located in the municipality Vang until an expansion of Hamar's city limits in 1946. It was one of four significant clubs in the districts before 1940, and because of their status as a local club, and certain ties to the Communist Party, it declined to merge into a catch-all club after 1945. Fellow workers' sports club Hamar AIL did merge, to form part of Hamarkameratene.
The ice hockey department was established in 1957, and took the name Storhamar Dragons in 1998. It is one of the most successful ice hockey clubs in Norway. The home arenas are Hamar OL-Amfi and Storhamar ishall.