Naftovyk Okhtyrka took part in the first Ukrainian Premier League season in 1992, after being initially chosen to participate for being the Ukrainian SSR Champion in 1991 (Note: a republican level championships were part of Soviet Second League B). Naftovyk Okhtyrka took 8th place in its group that season and was demoted to the Persha Liha as a result. Since 2004 the club took name FC Naftovyk-Ukrnafta Okhtyrka. During the 2007–08 season, FC Naftovyk-Ukrnafta Okhtyrka finished 15th in the Ukrainian Premier League and was relegated back to Persha Liha and will play there during the 2008–09 season.
Its home stadium, Naftovyk, has a capacity of 10,500. Also it plays its home games in Sumy at the stadium, Yuvileinyi (Jubilee), that used to belong to Spartak as its home ground does not meet the required criteria for the Premier League and the European competitions. The club is planning to upgrade its stadium in the near future.