CSM Râmnicu Vâlcea was the descendant of a much greater club, Chimia Râmnicu Vâlcea, founded in 1946 and dissolved in 2004. In their first year after founding they won 2004–2005 season of Liga III and promoted for the first time ever in the Liga II, the second level of Romanian football. Their best performances was to reaching the third place in 2006–07, 2007–08, 2013–14 seasons of that championship. They almost prototed in Liga I all of these years.
Since they promoted from Liga III, team played many years in the second league, but in the 2013–14, the team finished 3rd in the competition play-off, whatever the 3rd place not guarantee the promotion to Liga I, but the officials and the fans says that the team from the first place CSU Craiova, does not have the right to compete in Liga I, because after they founded they started from Liga II not from the conty leagues and that is an abuse to have that team in Liga I after one year they founded. They almost succeeded to win the spot in Liga I, that time. The still try to get a spot in Liga I from the Court of Arbitration for Sport.
In December 2016, Râmnicu Vâlcea Municipality withdrew it's financial support for the football team. The other shareholder of the team, businessman Dan Nițu, announced than that he can't sustain financially the team alone. After that, almost all the players left the team and signed contracts with other clubs.
In February 2017, Lucian Munteanu, the club president announced that only the senior team will be dissolved and youth teams will continue to play in their championships. Also some players went on loan to other teams.