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Tofaş was founded in 1974. The team won the BSL in two consecutive seasons, in the 1998–99 and 1999–2000 seasons. The following year, however, the team withdrew from the league, for financial reasons. They returned to competition in the BSL in the 2003–04 season, but were relegated to a league level the following year.

Tofaş next played in the BSL, from the 2009–10 season, to the 2014–15 season. In addition to the club's two Turkish Super League titles (1999, 2000), the team has also won three Turkish Cups (1993, 1999, 2000), and a Turkish President's Cup (1999). In the club's heyday, the team achieved significant success at the European-wide continental level. Such as being the runner-up in the European-wide third-tier level FIBA Korać Cup's 1996–97 season Final against the Greek club Aris Thessaloniki.

Tofaş also competed in the European-wide top-tier level EuroLeague, in the 1999–2000 season.

In 2015, Tofaş was relegated from the BSL to the First League. The club was immediately promoted back as it was the 2016 TBL champion. The club played in the European-wide second-tier level EuroCup, in the 2017–18 season. The same season, Tofaş reached the 2018 finals of the BSL. Despite winning game 3 at home, the team fell to Fenerbahçe and lost the series 4–1.