Wolfsberger Athletik Club, sometimes known more simply as WAC, was established in 1931. The club spent much of its history operating in the lower divisions of the Austrian football league structure, before gaining promotion to the second tier for the first time in 1968. During the decades that followed, Wolfsberger bounced between the second and third tiers several times, but in more recent years, they have risen to greater prominence.
Between 2007 and 2012, the club entered into a partnership agreement with another team, called SK St. Andrä. As part of the agreement, issues such as administration, finances and management were based from a combined central office and the two teams used their combined resources in order to chase improved performances on the pitch. In addition, during this time, Wolfsberger AC became known as WAC St. Andrä.
So far, Wolfsberger AC have failed to win any of Austria's major honours. However, the club experienced its greatest success to date during the 2011-12 season, as WAC St. Andrä finished the campaign as champions of the Austrian First League and gained promotion to the Bundesliga for the first time in history. Shortly after securing promotion, the club ended its partnership agreement with SK St. Andrä and reverted back to using the Wolfsberger AC name. As a result, they played their first top flight season as a fully independent club. The 2012-13 Bundesliga season proved to be another success for the team, as they avoided relegation and finished the year in 5th place.
The club's home matches are held at Lavanttal-Arena, which was formerly known as Sportstadion Wolfsberg. The venue opened its doors in 1984 and underwent a redevelopment in 2012, after the club achieved promotion. The renovations served to bring the stadium's capacity up from 6,500 to its current total of 7,300.