The city of Panevėžys has a long history of football in Lithuania. Until 2014 the city was represented by 7-time title winners FK Ekranas. However, FK Ekranas was unable to meet financial criteria to participate in 2015 season and lost eligibility to participate in A Lyga. The club was declared bankrupt. To fill the void, FK Panevėžys was established at the beginning of 2015, right before the new season start. Remarkably, the club made its debut in the second tier, finishing its first season in the eighth place. In 2016, the club improved its performance and finished in the fifth position. In 2017, Panevėžys aimed to win the I Lyga and return a club from the city of Panevėžys to A Lyga. However, the start of season was disastrous, which resulted in the resignation of the head coach Virginijus Liubšys. Eventually, the club finished 10th in the league table. The 2018 season was much more successful. With the new coach Alexandru Curteian, FK Panevėžys won the I Lyga achieving promotion to the A Lyga.