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Kisvárda FC, later known as Várda SE, was founded in 1911 as Kisvárdai Sport Egyesület (KSE). The officials of the village supported the new club by donating a pitch next to the market place. The financial support came from the merchants of the village, who helped a lot in the early stages of the club. In 1953, their present-day ground, the Várkerti sporttelep was built.

The club was reestablished on 26 October 1971.

Since the 2013–14 season, the official name of the club is Kisvárda-Master Good FC.

In the 2017-18 Nemzeti Bajnokság II, Kisvárda finished second and were promoted to the 2018-19 Nemzeti Bajnokság I.

On 21 July 2018, the first Nemzeti Bajnokság I match was played against 2017-18 Nemzeti Bajnokság I title-holders Videoton FC at the Pancho Aréna. The match ended with a 4–0 defeat.

On 30 July 2018, Elemér Kondás was sacked after two consecutive defeats in the 2018-19 Nemzeti Bajnokság I season. The next coach was László Dajka, whom Kisvárda stayed in the NB I for the next (2019/2020) season.

The end of the season Dajka left the club and his position received Vasile Miriuță.

Kisvárda were eliminated by Ferencváros in the round of 16 of the 2018–19 Magyar Kupa season on 1–3 aggregate.

On 6 February 2020, Tamás Bódog was appointed as the manager of the club. The club remained in the first division of the Hungarian League. However, he was sacked on 29 June 2020.

On 8 July 2020, Attila Supka, previously champions of the Nemzeti Bajnokság I with Debreceni VSC, was appointed as the manager of the club.

On 27 January 2021, Kisvárda beat Fehérvár FC for the first time in their history. The 2020-21 Nemzeti Bajnokság I match was won by 2-1. Originally, the match had to be played in autumn. However, it was postponed because Fehérvár played in the 2020-21 UEFA Europa League.

On 5 May 2022 Kisvarda beat Újpest FC at Várkerti Stadion 2-1 and with this result secured themselves qualification for the 2022-23 UEFA Europa Conference League at the second qualifying round.

On 20 July 2022, László Török and Kisvárda played their first international match in the 2022-23 UEFA Europa Conference League. They entered the second round of the tournament against FC Kairat. The first leg was won by 1-0 Kisvárda at the Almaty Central Stadium, Almaty, Kazakhstan. The only goal was scored by Jasir Asani in the 82nd minute. In the second leg, Kisvárda beat Kairat 1-0 at Várkerti Stadion on 28 July 2022. The only goal was scored by Jasmin Mešanović in the 39th minute.

On 12 August 2023, Miloš Kruščić was sacked after a draw against MTK Budapest FC at the Hidegkuti Nándor Stadion in the 2023–24 Nemzeti Bajnokság I season. Miloš Kruščić was replaced by Máté Gerliczki.

On 7 November 2023, János Mátyus resigned as the coach of the club. The club lost five matches and could win only one match with Mátyus in the 2023-24 season. On 8 November 2023, Tamás Feczkó was appointed as the coach of the club.

On 31 January 2024, the club announced the signing of Wellington Nem. Wellington made three appearances in the Brazil national football team.

Kisvárda entered the 3rd round of the 2023–24 Magyar Kupa season. On 17 September 2023, Kisvárda beat Pilisi LK 6-0 in the 3rd round of the Magyar Kupa. On 1 November 2023, Kisvárda beat Unione 6-0 in the 4th round of the Magyar Kupa. On 28 February 2024, Kisvárda beat Tiszakécske FC 3-0 in Tiszakécske in the round of 16 of the Magyar Kupa. On 2 April 2024, Kisvárda beat MTK Budapest FC 3-2 at the Várkerti Stadion in the quarter-finals of the Magyar Kupa.