Olympiacos SFP has represented the footballing identity of Piraeus since its founding on 10 March 1925, and stands today as the most successful club in Greek football history. Its dominance at home is reflected in a record collection of silverware: 48 league championships, 29 Greek Cups and 5 Greek Super Cups, more than any other club in the country in each of those three competitions. The club's most dominant spells came between 1997 and 2003 and again from 2011 to 2017, when Olympiacos won seven consecutive league titles on each occasion, making it the only club in the world to have won five or more consecutive championships on as many as five separate occasions.
Despite this domestic dominance, European success eluded the red-and-whites for decades, even though Olympiacos was the first Greek club ever to compete in European competition, making its debut in the 1959–60 European Cup against AC Milan. The historic breakthrough finally came on 29 May 2024, when Olympiacos beat Italy's Fiorentina 1-0 after extra time in the final of the UEFA Europa Conference League, played at the Agia Sophia Stadium in Athens — the home ground of local rivals AEK. The only, decisive goal came in the 118th minute from Moroccan striker Ayoub El Kaabi, his tenth of that season's competition. The triumph made Olympiacos the first Greek men's club in history to lift a major UEFA trophy, and also the first club from outside Europe's four biggest leagues (England, Italy, Spain and Germany) to win a UEFA competition since 2011 — a breakthrough that came almost a century after the club's foundation and cemented its status as a genuine continental force.
The club's home, the Georgios Karaiskakis Stadium, has an equally layered history. Built in 1895 as a velodrome for the first modern Olympic Games in 1896, it became Olympiacos' permanent home in 1925 and was completely rebuilt for the 2004 Athens Olympics, when it was reopened as a purpose-built, all-seater football stadium holding 33,334 spectators — still the largest football-specific stadium in Greece. Named after Georgios Karaiskakis, a military commander of the Greek War of Independence killed nearby in 1827, the stadium is renowned for producing one of the most intense matchday atmospheres in European football, and its attendance record of 45,445, set during a derby against AEK in 1965, still stands. Today the venue also houses the Olympiacos club museum, dedicated to all of the club's sporting departments, while the club has for years been owned and chaired by businessman Evangelos Marinakis.