Olympiakos Piraeus

Olympiacos is the one that traces back to the graduates of the Pan-Cyprian Gymnasium, who formed the side in 1931 and three years later sat among the founders of the Cyprus Football Association. The nickname Mavroprasini stuck.

The club's best decade ran from 1962 to 1972. Two of its three league titles came down to goal difference — level on points with APOEL in 1966–67, level with Omonia in 1968–69 — before a four-point margin over Digenis Morfou closed out 1970–71. The only cup they lifted came in 1976–77, when Giorgos Aristeidou scored both goals in a 2–0 final win over Alki Larnaca.

Since then the story has turned harder: relegation and an immediate return in 1983–84 and again in 1997–98, a drop in 2007–08 that took three seasons to reverse, a last-day relegation in 2012–13 settled by head-to-head results with Nea Salamis, and another fall in 2023.

Matches against APOEL still draw the label "Derby of Nicosia," even though the city's sharpest rivalry runs between APOEL and Omonia. Olympiacos now plays out of the GSP Stadium, in front of a ground that holds 23,000.