FK Jedinstvo was founded in 1922, as a first football team in Bijelo Polje. During the first two decades, the team played mostly exhibition matches, without participation in Montenegrin Football Championship. First significant success after World War II, the team made on season 1949-50, with promotion to the Montenegrin Republic League. At that time, the club played under the name Bratstvo. Soon after that, in the 1955-56 season, FK Jedinstvo played their first-ever season in the Yugoslav Second League, but were relegated after three consecutive seasons. Most of the sixties, FK Jedinstvo spent in Republic League, until the 1967-68 season. On that year, the team finished third place and gained promotion to the Yugoslav Second League - South Group. After two seasons, they were relegated, but new promotion to second-tier came in 1971, when FK Jedinstvo won the title of the Montenegrin Republic League champion. New season in the Second League, FK Jedinstvo finished as a last-placed team in South group. In the period between 1975-1980, FK Jedinstvo won two titles in the Republic League. Difficult times came at the beginning of the 1980s. On Republic League 1980-81 season, FK Jedinstvo finished 12th place, so, for the first time in their history, the team were relegated to the lowest-rank of domestic football system. They made comeback in the 1982-83 season. In that season, FK Jedinstvo played in the Yugoslav Cup. In the First Round, they hosted one of most successful teams in the history of Yugoslav football - Dinamo Zagreb in front of 6,000 spectators. Two years later, FK Jedinstvo were faced with another relegation to the Fourth League. At that time, in Bijelo Polje, they were in the shadow of local-rival FK Tekstilac. In the 1988-89 season, FK Jedinstvo played in newly-established Yugoslav Inter-Republic League, where they made significant success in the 1990-91 season. As a second-placed team, the team gained promotion to the 1991–92 Yugoslav Second League. On their comeback to second-tier, FK Jedinstvo finished 14th place. After the breakup of SFR Yugoslavia, FK Jedinstvo spent the most of the nineties in the second-tier competitions of FR Yugoslavia. In the beginning of the new century, the team from Bijelo Polje were among the best teams in the Second League of Serbia and Montenegro. Historical success came in the 2004-05 season. FK Jedinstvo won the champion title in Second League - group Montenegro and gained its first-ever promotion to the First League of Serbia and Montenegro. They started the 2005–06 Serbia and Montenegro SuperLiga season with the game against FK Partizan away, and first-ever elite division game in Bijelo Polje was held on 27 August 2005. FK Jedinstvo finished at the bottom of table, but their home games were among the best attended in the First League. After the Montenegrin independence, FK Jedinstvo became a member of the Montenegrin First League, but relegated to the Second League after the inaugural season. In the period between 2008-2018, FK Jedinstvo spent three another years in the First League, but were always relegated at the end of the season as a last-placed team.
FK Jedinstvo plays their home games on Gradski stadion. There are two stands with overall capacity of 4,000 seats. At the north side of stadium is situated indoor sports hall 'Nikoljac'.
