With a name inspired by the noted aviator Notis Kamperos, the five-man Andrianopoulos brothers founded Olympiakos CFP on the 10th of March 1925, in the small port of Piraeus near Athens, following the merger of Piraeus Football Club and Piraeus Fans Club. Since then, "The Legend" have dominated Greek football in an almost unbroken period of success, having been crowned champions a record 35 times, adding a record 22 Greek Cups by 2006.

The Olympiakos story took off in the era of the famous Andrianopoulos brothers in the 1930's. Yiannis, Dinos, Giorgos, Vassilis, Leonidas and later Stelios formed a potent forward line and the original legends guided the team to six league championships before the Second World War.

Olympiakos are nicknamed 'Thrylos', translated as Legend, after the classic side of the 1950's. During this decade the club won 7 championships (6 consecutively), and also 7 national cups, which included 4 doubles.

Traditionally a blue-collar side based around the busy port of Piraeus, Olympiakos CFP are by far the most successful club in Greek football history. Indeed they have more championships to their name than arch-rivals AEK Athens FC and Panathinaikos FC put together. Yet European progress has proved elusive, an unfortunate UEFA Champions League quarter-final defeat by Juventus FC in 1998/99 is their best effort so far. Olympiakos' emblem is a laurel-crowned Olympian adolescent and the club's colors are red & white.