The club was formed in Ghana on 11th November 1911 by a group of young men led by Christopher Brandford Nettey (later Asafoatse Nettey), a war leader of the Ga State in the colonial times and his other colleagues, Sinon-Okraku brothes (Adolf, Alfred and Wilhelm), J.T .O Ankrah,J.A Aryee, Dodoo Annang, Darku Abbey, Mark Nettey, the Solomon duo (Amponsah and Kwashie), the Bruce-Tagoe brothers (W.W and T.F), Willie Ocran, TF Wilson, JDK Botwe, FD Amoo, Peter Malm and Quarshie Coker, Akom Duncan, all players of the team.
Hearts of Oak is the only club in Ghana that has won all the three continental competitions (CAF Champions League, CAF Confederation Cup and the CAF Super Cup.
The Rainbow club was ranked 8th as the best club in the world by CNN in 2001.
