The Lutsk club was formed in 1960 initially as Avanhard, after the Soviet sports society, but before the start of competitions the name was changed to Volyn. Right from its establishment the club entered the Soviet professional competitions at the third division. In 1968 the club was changed its sponsor to the Lutsk Machinebuilding Factory and its name to Torpedo. However in 1971 the club became insolvent. In 1977 the club was reanimated once again as Torpedo and entered the competitions of the Soviet third division where it continued to participate to the fall of the Soviet regime. On January 30, 1989 in place of Torpedo there was established a professional football club Volyn. The club took part in the Ukrainian Premier League from its first championship in 1992. They were later sent down to Persha Liha after the 1995–96 season. They later resurfaced into the Ukrainian Premier League in the 2002–03 season, but they were relegated from the Ukrainian Premier League after taking 15th place in the 2005–06 season. The team was promoted back to the Ukrainian Premier League for the 2010–11 season.
Volyn's biggest rival today is Karpaty Lviv. The match between is called the Halytsko-Volynske derby. The stadiums in Lutsk and Lviv are nearly full for matches between the two teams. This derbys are the main football events in western Ukraine.