The cub was founded in 1912 as Világosság Football Club. At that time Budafok was not part of Budapest. Only in 1950 Budafok joined Budapest along with other towns such as Újpest and Kispest. Budafok played mainly in the Nemzeti Bajnokság II between the World War I and World War II. However, they debuted in the 1945–46 season of the Hungarian League and finished ninth. The manager of the club was Gusztáv Sebes in the first league. After the fall of the Communism, there was a high chance that the club was dissolved as many other clubs in Hungary. At that time the wine producing company, Hungarovin, financed the club. However, the company was sold to Henkel during the privatisation in Hungary. The Henkel wanted to purchase the football stadium too in order to expand the factory. However, Sándor Vízi and Rezső Gallow saved the football in Budafok because they managed to take out the football match from the privatisation. Therefore, the football stadium was not included in the privatisation of the Állami Vagyonügynökség. In 2015 János Jakab became the president of the club. Jakab, former player of the club, also managed MEDOSZ Erdért and he was also president of the Puskás Akadémia FC. Jakab managed to convince Róbert Bélteky, Hungarian-Australian entrepreneur, to invest in the club. Bélteky was also the owner of the most popular Australian association football club, Melbourne Victory FC.Bélteky said in an interview with Nemzeti Sport: "I wanted to purchase a club and then see it prospering", "I did not want to buy a club from the first league and my friend Jakab suggested Budafok". Bélteky became interested in the club and he purchased the 95% of the shares. The remaining shares of the club belongs to the Foundation for Budafoki Football. Budafok merged with Újbuda FC, therefore, they could advance from the Budapest league to the Nemzeti Bajnokság III. The cub started the competitions in the 2015-16 Nemzeti Bajnokság III season. The club finished fourth in that season. Budafok won the 2016-17 Nemzeti Bajnokság III season with manager László Prukner, while the club managed to reach the semi-finals of the 2016-17 Magyar Kupa. They were beaten by Ferencvárosi TC. In 2017 the club signed former Inter Milan and A.C. Milan striker Attila Filkor. On 13 May 2017, Budafok won the 2016–17 Nemzeti Bajnokság III season thereby gaining promotion to the 2017–18 Nemzeti Bajnokság II season. On 29 June 2017 it was announced by the club that their former player, Lóránt Oláh, became the sport director. In the 8th round of the 2018–19 Magyar Kupa season Budafok were eliminated by MOL Vidi FC. In 2020 the club was promoted to the Nemzeti Bajnokság. Due to the COVID-19 pandemic the 2019-20 Nemzeti Bajnokság II was interrupted and finally terminated in May. The club was the second at that time, therefore they were promoted to the 2020-21 Nemzeti Bajnokság I.
