The basketball club participated for the first time in the Greek league in 1929 winning second place honours. They finished third the following year. Panionios have been playing continuously in the top Greek basketball league since the 1982 season. In 1991, the blue-reds won the Greek Cup defeating PAOK 73-70. Panionios have also played in the final of the Greek Cup in 1977 and 1995. In 1987 they played in the final series of the A1 Championship losing out to Aris Thessaloniki.