Heracles Almelo were founded on 3 May 1903 in Almelo, a city in the eastern Dutch province of Overijssel. The club takes its name from Heracles, the demigod son of Zeus in Greek mythology — an identity the club has carried through several name changes before settling on Heracles Almelo in 1998.
The club's two most celebrated achievements came in the pre-Eredivisie era, when Heracles claimed the Dutch national championship in 1926–27 and again in 1940–41. For much of the second half of the twentieth century the club operated below the top flight, but a renaissance arrived in 2004–05 under coach Peter Bos, when Heracles won the Eerste Divisie title and earned promotion to the Eredivisie after an absence of 28 years. Against widespread predictions of an immediate return to the second tier, the club consolidated and spent 17 consecutive seasons in the top flight — a sustained run that represents the most stable period in the club's modern history. A further highlight came in 2011–12, when Heracles reached the KNVB Cup final for the first time, though they were beaten 3–0 by PSV. In 2015–16, a sixth-place Eredivisie finish opened the door to European competition, and Heracles appeared in the UEFA Europa League qualifying rounds for the first time in their history.
Relegated at the end of 2021–22, the club bounced back immediately by winning the 2022–23 Eerste Divisie title — their third second-tier championship overall. Their fiercest rivalry is with neighbouring Twente, a derby rooted in regional pride across the Twente area of Overijssel.