The club was founded in 1950 and was named after its host city.
History
2011–2016
After 5 good seasons in the First Regional League the club stopped competing following the 2015–16 season.[1] In the final season Knjaževac 1950 did not qualify to the Second Basketball league of Serbia for 2016–17 season. They have had a 82–79 road win over won Rtanj in the 1st game but then had a 84–75 home loss which was insufficient for advance to the Second Basketball league of Serbia in the 2016–17 season due to points difference.[2]
After 2020
In the 2020–21 season, Knjaževac return in Serbia basketball. They started in Second Regional League, they were 2nd but they did qualify to First Regional League again for the 2021–22 season.