It started as a political organisation that was part of the single-ruling party at the time, the Arab Socialist Union (ASU). And It participated in Republican Egypt's first ever multi-faction election in 1976. It won a large majority of seats in that election becoming the largest political faction in Egypt. In 1977 It became a political party after the ASU was dissolved, and it kept being the largest party in Egypt until 1978.
In 1978, President Sadat announced the creation of his new political party, the National Democratic Party (NDP). Not long after that announcement, all prominent party members and all members of Parliament of the EASP joined the President's new party along with MPs from other parties. Only a very small faction of the party stayed and it continued to function as a minor party, barely having any presence in Egypt's political scene.