The club was founded in 1905 as Olbia Calcio. In 2001–02, they were the champions of Serie D and earned promotion to Serie C2.
After the 2009-10 Lega Pro Seconda Divisione the club was dissolved for financial problems. However, FIGC formally canceled the membership of Olbia Calcio S.r.l. in 2016, after the promotion of the new Olbia.
In the Summer of 2010 the club was refounded as U.S. Olbia 1905 A.S.D. and restarted from the sixth-tier Eccellenza Sardinia. They won this league in 2012–13 and were promoted to Serie D. The club was also known as just A.S.D. Olbia 1905. The club later incorporated as a limited company: Olbia Calcio 1905 S.S.D. S.r.l. circa 2015–16 season.
In 2016 the club promoted to Lega Pro to fill the vacancies as Olbia Calcio 1905 S.r.l..