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2018–2020: Founding and initial struggles

The Marikina Shoemasters were established in 2018, as part of the MPBL's expansion lineup for the 2018–19 season. As part of the South Division, the Shoemasters, led by Yves Sazon and Erwin Sta. Maria, only managed to win eight games out of 25, putting the team at 11th place in the South.

Heading into the 2019–20 season, Marikina was realigned to the North Division, and despite keeping the same core players, the team still only won eight games in the 30-game season, putting the team at 13th in the North and missing the playoffs once again.

2022–present: Making the playoffs

The Shoemasters entered the 2022 season with a rebuilt roster led by Lorenzo Joson. Although the team only finished with an 8–13 record, it was enough to give Marikina its first playoff appearance. The team would then be swept by the undefeated Nueva Ecija Rice Vanguards in the First Round. Although Joson would leave the team for General Santos in 2023, Marikina would add Felipe Chavez and collegiate player Marwin Dionisio alongside Joe Gomez de Liaño to its roster. Marikina went on to have a tough playoff race against the Bataan Risers, which Marikina won in the final week as they claimed the eighth seed once again. On top of that, Marikina finished 16–12, their first winning record in franchise history. In the playoffs, the Shoemasters would be swept by the top seed Pampanga Giant Lanterns in the First Round.

Marikina would also broaden its venture into sports development around this time. The Marikina Junior Shoemasters joined as part of the founding lineup of the youth-oriented Junior MPBL. Its women's volleyball counterpart, the Marikina Lady Shoemasters, was also established and will play in the inaugural season of the Maharlika Pilipinas Volleyball Association (MPVA).

After the 2023 season, Elvis Tolentino departed Marikina after four seasons with the team, bringing his coaching duties to South Cotabato. Rysal Castro is set to succeed his role beginning in 2024.