The club was formed in 1980 and competed in the National Soccer League from 1981 until the competition ceased in 2004, with the exception of a brief stint in the NSW State League in 1987. The club's most successful period in the national tournament came at the turn of the century when they won two consecutive championships in 1999–2000 and 2000–01. As a result, the club qualified for the region's continental championship in 2001 which it also won. By doing so, the Wolves became only the second Australian club to win a continental double after South Melbourne FC achieved the same feat two years prior. Their success at this particular event qualified the club for the 2001 FIFA Club World Championship, however, this tournament would ultimately be cancelled.