The Mulgrave Football Club was founded in 1925 by a group of local farmers, with the original ground being in Police Road. The club was later relocated in Garnett Road, where it still operates.
Charles Baker, a foundation member was the Club's inaugural president. Another foundation member was Tom Baines, in recognition of his contribution to the Mulgrave Football Club, the Senior Best and Fairest Trophy has been the “Tom Baines Memorial Trophy”. The Mulgrave Football Club has had five generations of his family playing, sponsoring or administrating the club.
The Mulgrave Football Club has generally been affiliated with the South Eastern Suburbs by playing in the Croydon-Ferntree Gully Football League, which then became the Eastern Districts Football League and recently changed to the Eastern Football League.