Rio Ave Futebol Clube was founded in 1939 in Vila do Conde, a coastal town in north-western Portugal where the Ave River meets the Atlantic Ocean. The club takes its name from that river, and its identity has long been shaped by the tight-knit community of this modest but proud fishing and textile town.
The club's defining era arrived in the 1980s, under the management of Félix Mourinho — father of José Mourinho — when Rio Ave achieved what remains their joint-best Primeira Liga finish of fifth place in 1981–82. Two years later they reached the Taça de Portugal Final, falling 4–1 to Porto. The green-and-white stripes of the Vilacondenses became synonymous with a brand of competitive, punching-above-their-weight football that has characterised the club ever since.
A second memorable chapter came in the early 2010s under Nuno Espírito Santo, when Rio Ave reached two domestic cup finals in 2013–14. Although they lost both to a Benfica treble-winning side, the runner-up finish in the Taça de Portugal earned the club its first-ever European campaign, in the 2014–15 UEFA Europa League. By 2019–20 they matched their fifth-place record again, with Iranian forward Mehdi Taremi finishing as joint top scorer in the league. A dramatic Europa League play-off defeat to A.C. Milan on penalties followed shortly after.
After a brief relegation, Rio Ave bounced back immediately, winning the Segunda Liga title in 2021–22 to return to the top flight. In 2023 the club entered a new chapter when Greek shipping magnate Evangelos Marinakis — also owner of Olympiacos and Nottingham Forest — acquired a stake, signalling fresh ambitions for a club that has consistently produced elite talent, including Jan Oblak, Ederson, and Fábio Coentrão.