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Early days

Although the parent club Vålerengens Idrettsforening was founded in 1913, the history of Vålerenga Ishockey starts in 1947, when the junior team participated in the national junior championships for the first time. In the 50s, the junior team won the national junior championships five years in a row.

First dynasty (1960–1973)

Vålerenga won their first national championship in 1960, taking over the throne from local rivals Gamlebyen. More championships were won in 1962 and 1963. From 1965 to 1971, Vålerenga won the championship an incredible seven times in a row, a feat not repeated in Norwegian hockey since. Notable players from this era include Arne "Mikkel" Mikkelsen, Steinar "Bjølle" Bjølbak, Tor "Jern-Gustav" Gundersen, and notably, Roy "Sleipern" Jansen. Another title was added in 1973, but this also marked the end of the first dynasty as the club faced a generational change.

A new generation (1982–1994)

Ten years went by before Vålerenga could celebrate another championship, in 1983. A new generation had emerged, and players such as Jim Marthinsen, Roy Johansen, Geir Myhre, Tor Helge "Totto" Eikeland, Bjørn Kolsrud, Arne Billkvam and Jon Magne Karlstad would go on to become club legends. In 1988, Vålerenga won their 15th title. The next season saw the debut of Espen Knutsen, who would later become the first Vålerenga product to play in the National Hockey League.

Recent era

This marked the start of another dynasty for Vålerenga and the club added several more titles in the 1990s. Kent Forsberg became head coach in 1994 and invited his son Peter and Markus Näslund to play a friendly match for the club during the lockout season in the NHL. The 20th national championship was won in 1999. Notable players from this era include Morten Ask, Kenneth Larsen, and Kjell Richard "Ricky" Nygaard, along with Swedish imports such as Johan Brummer, Patric Englund and Niklas Gällstedt. Six more championships were added after 2000, the last being won in 2009. Vålerenga were in talks to join the Kontinental Hockey League in 2014, but the plans didn't go through.

Vålerenga's home arena through six decades, Jordal Amfi, was demolished in January 2017 and replaced by new arena, completed in the fall of 2020 after construction delays.