The club is a result of a merger in 1993 between
Eiðis Bóltfelag, who were founded on 24 February 1913, and
Streymur, founded in 1976. Prior to the merger, both
EB Eiði and Streymur usually played their football in the second or third division. After the merger in 1993, the team still resided in the lower divisions, but this soon changed. With a newly built football ground at Mølin, Eiði, and a healthy injection of young talent, EB/Streymur chased promotion to the top flight. Among these players in were: Hans Pauli Samuelsen, Bárður Olsen (Haldórsvík), Brian Olsen (Tjørnuvík), Marni Djurhuus, Gert Hansen, Arnbjørn Hansen (Kollafjørður). With the help of veteran attacker Jón Sigurd Gleðisheygg, the team won promotion in the 1999/00 season, finishing in place second, behind B36. EB/Streymur have since gained a foothold in the top division (
Betri deildin), as title contenders. In 2006, following a mid-table finish the previous season, the club made a strong start to the season under Polish coach Piotr Krakowski, and led the league at the mid-summer break, having recorded a club record 8–2 win against
B68 Toftir. With four matches left to play their lead at the top of the table was seven points. A dip in form followed, but the club went into the final match requiring a draw against
KÍ to win the title. However, a late KÍ goal, coupled with
HB taking the lead in their match with two minutes remaining meant EB/Streymur were denied the title. In 2012 EB/Streymur won their second league title. On 25 September 2014, EB/Streymur lost one of the clubs best football players, the 22-year-old Gunnar Zachariasen, who died in a tragic accident on board a Greenlandic fishing trawler which was in Tórshavn in order to sell its fish. The accident happened while unloading fish from the trawler, something went wrong and a lot of boxes with frozen fish fell on top of Gunnar Zachariasen who died instantly. According to Rúni Nolsøe, EB/Streymurs coach, Faroese football had lost a very good football player. He played 11 caps and scored 4 goals for the
U21 Faroe Islands team. EB/Streymur was supposed to play against NSÍ Runavík the a few days later, but the match was cancelled because of the death of Gunnar Zachariasen. In recent years the club has often been predicted as relegation candidate, but usually finish in 6th to 8th position in the 10 team Premier League (
Betri deildin), comfortably clear of relegation. ==Current squad==