The club was founded by students of the University of Belgrade on July 28, 1953, under the name of KK Metalac (Serbian Cyrillic: КК Металац). At that time, the club was part of the Metalac Sports Society. The first club president was Kosta Perović, while the first coach and the first player was Roman Bruj.
The 2011–12 season of KLS was the first time the club competed in the top professional club league in Serbia.