Färjestad Karlstad were founded in 1932, just a slap shot away from the Löfbergs Arena, the 8,500-seat arena built in 2001 where the team currently play their home games. The ice rink inside the arena is situated in the exact same spot where the club's first rink was built in 1957.

The side from Karlstad have the most successful track record in the history of the Swedish top league, the SHL (former Elitserien). Färjestad have played in every single season since the league debuted in 1975 and are top-ranked in the all-time records table.

Färjestad have played in 21 championship finals – 10 of which have been since 2000 – and have won the Swedish title 10 times, most recently in the 2021/22 SHL season.

The 2023/24 season will mark Färjestad Karlstad's sixth appearance in the Champions Hockey League. In their five previous attempts, Färjestad reached the Round of 16 twice.