Football Club Lausanne Sport was established in 1896 and served as a department of the wider Lausanne Sports club. Initially operating as Montriond Lausanne, the team took on its current name in 1920, after a merger with Club Hygiénique de Lausanne. Historically, the side have enjoyed tremendous success in Swiss football, especially in the first half of the 20th century. In recent times, however, Lausanne Sport have been relegated several times and have spent a number of years in the lower divisions.
After winning a Swiss title in the 1912-13 season, Lausanne Sport went several years without a major trophy. However, the team enjoyed a golden era, which spanned the 1930s. Over the course of the decade, the club earned league titles in 1931–32, 1934–35 and 1935–36 and lifted the Swiss Cup in both 1935 and 1939.
In total, the team have been crowned as Swiss champions on seven occasions, with their most recent league success coming in the 1964-65 season. In addition, Lausanne Sport have lifted the Swiss Cup nine times, including back-to-back successes in 1998 and 1999. These remain the team's last major honours. In recent years, success has been out of reach, although the side have come close on multiple occasions. They finished as league runners up in 1999–00 and as Swiss Cup runners up in 2000 and 2010.
Roger Courtois, Fritz Künzli and Stefan Rehn are amongst the team's most notable former players. All three footballers also represented their respective national teams over the course of their careers.
Lausanne Sport play their home matches at the Stade Olympique de la Pontaise. It has served as a sports venue since 1904 and underwent renovations in 1954, prior to hosting games during that year's FIFA World Cup. The stadium is able to hold a maximum of 15,850 fans.