The Club had its origins in 1961 when it entered a team in the La Trobe Valley Soccer League under the name of IASSCOG (Italian Australian Sports & Social Club Of Gippsland). The following year, a local motor car dealer offered a sponsorship package to the Club if the team would change its name to "Falcons", consistent with the name of a new car model. The sponsorship was not forthcoming but the name remained.

Morwell Falcons enjoyed considerable success in the La Trobe Valley Soccer League, and won the following honours:

Having won everything before it in the La Trobe Valley area, it was time for new challenges. The club applied for, and was granted admission to the Victorian Provisional League. Again the club showed its strength, both on and off the field, by winning the VSF Provisional League and the Round Robin Cup Competition in 1974 and 1975. The Falcons were Runner-up in the VSF Provisional League and promoted to Metropolitan League 3^rd Division in 1977, third in 3^rd Division in 1978, promoted to Metropolitan League 2^nd Division in 1979, and promoted to Metropolitan League 1^st Division (later State League) in 1980.

In 1985 and 1989 the team enjoyed successful seasons winning both the State League Championship and Top Four Cup in each year.

In 1992 the Club applied for, and was admitted to, the National Soccer League. Morwell Falcons played its last game in the Victorian State League in August 1992, where it finished mid-table. The Club then had less than six weeks to prepare a new team for the start of the 1992/93 National League season. Despite only having two months notice of its acceptance into the NSL, the club finished 10^th out of 14 in 1992/93. This represented an outstanding performance, given the limited amount of preparation time available.

The Club learned a number of lessons from its initial National League experience and in season 1993/94 recruited several players of a higher quality. This influx of talent brought immediate results and the club finished just outside the top six in 7^th position.

A change of coach, from Bobby McLachlan to Harry Bingham, late in the 1994/95 season assisted in the club surpassing the previous season’s success to obtain its highest ever position of 4^th to qualify for the finals. In what is to date the club's only finals appearances the Falcons went down to fierce rivals South Melbourne in its semi-final, losing 0-1 at Falcons Park and 1-5 in Melbourne.

Although the club enjoyed an excellent start to the 1995/96 season in which it led the NSL ladder for a few weeks early in the campaign, it was not able to sustain this level of performance throughout the season and finished disappointingly in the bottom half of the table.

The season 1996/97 represented a considerable challenge for the club. Going through a significant transitional phase, it had recognised the socio-economic structure of its support catchment, which is geographically more diverse than that of the big city clubs. The club changed its name to Gippsland Falcons to reflect the region in which it is located.

That season saw the Falcons rebuild its senior team under new coach Frank Arok, who had been enticed from Port Melbourne, with the line-up of a number of players from its youth team. And even though the season’s first half could have produced better results, the Falcons finished the last two months of the season meeting all opposition with some magnificent wins and fighting draws.

1997/98 was almost a carbon copy of the previous season, with mediocre results in the first couple of months but gaining momentum and great results against teams much higher on the League Ladder.

For the 1998/99 the Falcons appointed former Rangers, Blackburn Rovers, Bristol City and Sydney United defender, Stuart Munro to succeed Arok as senior coach. It was a turbulent campaign in which the club finished in 2^nd last spot in a 16-team competition, but again the Falcons managed some good results against more glamorous opponents.

In 1999/2000 the Falcons endured numerous off-field difficulties and again finished 2^nd bottom of the ladder. But given the resources available they again proved to be highly competitive, under new coach Jeff Hopkins, with some impressive results against "bigger" clubs.

The most pleasing aspect of recent seasons has been the introduction and nurturing of young talent from both within and outside Gippsland. Players such as Tony Sekulic, Archie Thompson, Joe Tricarico, Marcus Stergiopoulos and Levent Osman have moved on to other clubs.

Of the current team, a big future in the game is expected for the likes of Clayton Bell, Andy Vargas, John Hutchinson, and the exciting young West Australian, Robbie Puca. Another pleasing feature of the 1999/2000 team is the number of locally produced players in the first team squad, and they have taken the field with as many as five such players in the team.

The acquisition of coaches such as Frank Arok (1996/7 & 1997/8), Stuart Munro (1998/9) and Jeff Hopkins (1999/2000) has brought to the club, and the region, a wealth of experience and knowledge gained at the highest level, from which all parties have benefitted.

The club has recently restructured and its future is currently subject to much conjecture. However, recent plans by Soccer Australia to restructure the NSL in 2000/2001 threatened to end the Falcons days of competing in the top soccer competition in Australia. These plans have since been delayed and the club lives to fight another day in the NSL. It is now up to the club's directors, officials, members, sponsors and supporters to ensure that Gippsland Falcons continue to represent regional Australia in the National Soccer League for many years to come.