The Perth Thunder were founded in 2010. On 28 November 2010, Perth Thunder were granted a provisional license with the AIHL for the 2011 season, with the intention of entering the league to compete as the ninth team in the 2012 AIHL season. In 2011 the Thunder played a number of exhibition games against several AIHL teams. In May the Thunder travelled to Adelaide to compete in two games against the Adelaide Adrenaline. They drew the first game 2–2 and won the second 3–0. In June the Melbourne Ice travelled to Perth to compete in two games against the Thunder at the Cockburn Ice Arena. The Ice won the first game 4–3 and lost the second game 3–6 after letting in six goals to none in the final period. In September the Newcastle North Stars traveled to Perth to play the Thunder in a two game series. The Thunder won both the first and second game 4–2. On 16 October 2011 the AIHL voted to include the Perth Thunder as the ninth team to join the league.
Playing in their inaugural season the Thunder finished fourth in the Easton conference, missing out on the Goodall Cup playoffs. Following the end of the season the 2012 club awards were announced. Ken Rolph was named MVP, Aaron Wilson was named best defenceman, Samuel Wilson best local player, and David Kudla won the most improved award. The Thunder finished the 2013 AIHL season in third place, qualifying for their first Goodall Cup playoff series. The team were drawn against the Newcastle North Stars for the semi-final and lost the game 1-6, ending their finals campaign. During the off season the team added Robert Cox to its board as a partner and director. Prior to the start of the 2014 season Stan Scott announced that he had stepped down as head coach in order to focus on the General Manager operations of the club. Scott was replaced by Dylan Forsythe as head coach and but remained on the coaching panel as an assistant. The club also announced that Goodlife Health Clubs had signed on as a new major sponsor and gold level sponsor, C.D. Dodd Scrap Metal Recyclers have increased their sponsorship to become a platinum level sponsor. After eight games into the 2014 season it was announced that Forsythe had stepped down as head coach effective immediately for unknown reasons. Stan Scott agreed to take over as interim head coach for the remainder of the season. Part way through the season the club secured watch maker Haigh and Hastings as another major sponsor.