1. FC Köln was founded on 13 February 1948 through the merger of two Cologne clubs, Kölner Ballspiel-Club 01 and SpVgg Sülz 07, agreed at a pub in the Sülz district. Franz Kremer became the club's first president, aiming from the outset to build a side capable of competing on a national scale. The club's colours, red and white, were taken from the flag of Cologne.
Even before the Bundesliga was founded, FC Köln won the West German championship in 1962, fielding Hans Schäfer, the 1954 World Cup winner who spent his entire career at the club. A year later Köln became one of the founding members of the new, nationwide Bundesliga and, in its very first season, 1963–64, won the inaugural title under coach Georg Knöpfle — the club's third German championship overall.
The following season Köln reached the quarter-finals of the European Cup, where the tie against Liverpool, level after two draws, was decided by a coin toss — the first attempt landed upright in the mud and had to be repeated. Luck ultimately favoured the English side.
In the 1970s the club built its identity around midfielder Wolfgang Overath, long-time captain and later club president. In 1976 coach Hennes Weisweiler, previously a multiple champion with Borussia Mönchengladbach, returned to Cologne — the same Weisweiler after whom the club's goat mascot had been named back in 1950. Under his guidance, Köln won the DFB-Pokal in 1977 and completed a league-and-cup double in 1978. In total, the club has won the German Cup four times, in 1968, 1977, 1978 and 1983.
The club's biggest European achievement remains reaching the 1986 UEFA Cup final. After losing 5–1 in Madrid, Köln won the second leg 2–0, which was not enough to overturn a 5–3 aggregate defeat to Real Madrid. The tournament's top scorer that season was Köln forward Klaus Allofs, with nine goals.
To this day, one of the club's most recognisable symbols remains the live billy-goat mascot Hennes, present at matches since 1950 and closely tied to Cologne's carnival culture and local fan identity. Die Geißböcke play their home matches at the ground long known as Müngersdorfer Stadion, now carrying the commercial name RheinEnergieStadion. Despite fluctuating fortunes on the pitch, the club remains one of the most widely supported and recognisable in Germany.