The club was founded in 1896 under the name of Montriond Lausanne. However, the Lausanne Football and Cricket Club was established in 1860, believed to be the oldest football club on the European continent by some historians. The club took the name Lausanne-Sports FC in 1920 after the football section merged with the Club Hygiénique de Lausanne, a physical education club. The club plays at the Stade Olympique de la Pontaise, a 15,850 all-seater stadium used for the 1954 FIFA World Cup. They played in Swiss First Division between 1906–1931 and 1932–2002.
After the 2001–02 season, Lausanne-Sports were relegated because the club did not obtain a first level license for the 2002–03 season. Following the 2002–03 season in the second division, Lausanne-Sports FC were again relegated due to bankruptcy. They were reformed as FC Lausanne-Sport for the 2003–04 season and had to begin play at the fourth tier. The team was promoted in consecutive seasons from the fourth division after the 2003–04 season and the third division after the 2004–05 season. After an additional six years in the second tier of Swiss football, the club was promoted to the Super League for the 2011–12 season.