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The club was founded in 1959, on the foundations of FK Doboj, which was founded in 1956 and played in the league of the labour sports games of Kakanj.^[]

In the 2009–10 season, the club was first in the League of the Zenica-Doboj Canton and was promoted to the Second League of FBIH (Group Center), where they finished in 4th place in the first season. The club played in the first round of the Bosnian Cup in the 2008–09 season. In 2013, Mladost finished in first place in the Second League of FBIH (Group Center) and were promoted to the First League of FBiH.^[]

In the 2014–15 season of the First League of FBIH, the club finished 1st and earned itself promotion to the Bosnian Premier League.

Mladost's so far biggest ever success came in the 2016–17 season, when the club made it all the way to the semi-final of the 2016–17 Bosnia and Herzegovina Football Cup. On their way to the semi-final, Mladost eliminated Rudar Prijedor, Slavija Sarajevo and Bosna Union (at that time still known as Bosna Sema), before getting eliminated by Sarajevo in the semi-final.

In the 2020–21 Premier League season, Mladost initially avoided relegation to the First League of FBiH, but were then relegated back to the league due to failing to obtain a license for the Premier League.