Futebol Clube de Alverca was founded on 1 September 1939 in Alverca do Ribatejo, a town in the Vila Franca de Xira municipality, located in the greater Lisbon region of Portugal. For the better part of six decades the club existed in the lower reaches of Portuguese football, before a breakthrough promotion to the Primeira Liga in 1998 brought them national attention for the first time.
During that initial top-flight era, Alverca carved out an unusual identity: the club operated in close partnership with S.L. Benfica, regularly hosting the Lisbon giant's most promising young talent on loan. Decorated players such as Deco, Maniche, and Ricardo Carvalho passed through Alverca during this period, giving the club a reputation as one of Portuguese football's most productive development environments. That era ended abruptly in 2005 when financial difficulties forced the club to fold.
Reformers re-established Alverca in 2006 at regional level, and the club spent over a decade climbing back through the Portuguese pyramid. A memorable cup run in October 2019 — when Alverca, then a third-tier side, defeated Sporting CP 2–0 in the Taça de Portugal — captured the imagination of neutrals across the country and underlined the club's stubborn ambition. A sombre shadow fell over that achievement when Alex Apolinário, scorer of the opening goal that night, passed away in January 2021 after collapsing during a match.
The current decade has brought a remarkable second chapter: back-to-back promotions in 2023–24 (Liga 3 title) and 2024–25 (Liga Portugal 2 runners-up) returned the club to the top flight for the first time in over twenty years. In February 2025, Real Madrid star Vinícius Júnior and partners acquired a majority stake, signalling fresh ambitions for a club that has always punched above its weight.