The parent sporting club of
G.S. Iraklis Thessalonikis was founded on 29 November 1908, and initially featured
football. The club was named after
Heracles (or
Hercules), the
mythical Greek
demigod. The basketball team of Iraklis was established in 1921. in 1928, and won it again, in 1935. Iraklis won the inaugural
Greek League championship in 1928. To win the championship, Iraklis had to eliminate
A.E.K. and
Near East, before beating
V.A.O. in the championship game. The team won its second Greek championship in 1935. Iraklis reached the semifinals of the
1994–95 FIBA European Cup, where they competed against
Taugrés. Iraklis won the first game 79–78, but lost the next two games, to be eliminated 2–1 in a
best of three series. In 1996, an Iraklis team led by former
N.B.A. players
Xavier McDaniel and
Roy Tarpley, reached the
Greek Cup Final Four. By beating
Apollon Patra in the semifinal, Iraklis reached the final, where it then lost 85–74 to
Panathinaikos. In 2010, after four seasons in the second-tier level
A2 National Division, the team was
promoted back up to the top-tier
Greek League. After one season in the Greek top-tier level, Iraklis was again relegated down to the
A2 National Division, with two matches left in the season. At the end of the season, Iraklis chose to play in the third-tier level of Greek basketball, the
B National Division, in order to clear its debts. The club was promoted to the
A2 National Division in 2013, after finishing 2nd in its group, and after
Peristeri failed to receive financial clearance to participate in the league. In the
2018–19 season, Iraklis won the promotion playoffs of the Greek A2 League, and was promoted up to the top level
Greek League, for the first time in 8 years. During the
2019–20 season, Iraklis is taking part in the
Greek League organized by the
Hellenic Basketball Federation. The season started in October 2019 and was scheduled to end in June 2020. However, due to the coronavirus pandemic, the championship was terminated earlier. Iraklis took the 7th place with 29 points, having 9 wins and 11 losses in a total of 20 games. In the 2020–21 season, Iraklis returned to European competitions, taking part in the qualifying round of the
Basketball Champions League and later on in the 2020–21
FIBA Europe Cup where the club reached the Top16 round having 3 wins and 1 loss. In the
2020–21 season Iraklis took the 10th place with 29 points, having 7 wins and 15 losses in a total of 22 games. == Home arena ==