Perth Lynx Women

In 1985, the Western Australian Basketball Federation sent its senior women's team to the Australian women's club championships. Prior to the championships, WA was seen as at least two years away from a national conference berth. After the team went 5–1 at the championships, WA was granted entry into the Women's Basketball Conference (WBC), a second-tier national league under the Women's National Basketball League (WNBL). Former Australian representative Sue Harcus was a key figure in getting a WA side into the national competition. The entry was seen as a two-year apprenticeship on the basis that they paid their own airfares in the first two years. The team debuted in the WBC in 1986, funded by the Western Australian Institute of Sport (WAIS) and the WA Basketball Federation, and backed by Adidas. The team endured tough travel schedules, sometimes playing three games in 36 hours or four games in five days. In 12 games, the team had five wins and seven losses.

In 1987, the team was known as the WAIS Rockets. For WA to be admitted to the WNBL, the state was told that the Rockets had to win the 1987 WBC title. That year, the Rockets played all of their games away from home including finals, finishing on top of the ladder with a 10–1 record and beating the Forestville Eagles in overtime to advance to the grand final, where they won the title 56–47 against the Knox Raiders. The Rockets featured Tanya Fisher and Cheryl Kickett-Tucker.

The franchise debuted in the WNBL in the 1988 season as the Perth Breakers. The Rockets name was dropped due to the WNBL already having the North Adelaide Rockets in the league. The Breakers finished their inaugural season in ninth place with a 6–16 record.

In the 1989 WNBL season, the Breakers amassed a 9–8 record over the first half of the season. As a consequence of the 1989 pilot strike, the team withdrew from the season and their record was deleted from the ladder. The Breakers returned to action in the 1990 season. After playing at the Perth Superdrome in Mount Claremont over their first two seasons, the side returned to its original venue at Perry Lakes Basketball Stadium.

The Breakers appeared in the WNBL finals every year between 1991 and 2000 except 1997, making grand final appearances in 1992, 1993 and 1999.

In the 1992 season, the Breakers won the WNBL championship behind captain Michele Timms and coach Tom Maher, along with Robyn Maher, Tanya Fisher, Natasha Bargeus, Lisa MacLean, Marynne Briggs and Marianna Vlahov.

In 2001, just three months before round one of the new WNBL season, the owners handed back the licence and the players were told the club would fold. Basketball Western Australia subsequently took over the licence and changed the team name to Perth Lynx, which remained as such until 2010.

Basketball WA lacked money to pay players and coaches. The players had to pay for their own gym memberships and maintained full-time jobs. They also travelled on game day or took midnight flights to save money. Despite the challenges, Perth won four games in 2001–02 and six in 2002–03.

After finishing last on the ladder in the 2009–10 WNBL season with a 2–20 record, the team was rebranded as the West Coast Waves for the 2010–11 WNBL season. The change symbolised the reinvigoration of the Basketball WA program under experienced head coach David Herbert and home-grown legend Tully Bevilaqua, and gave a nod to the team's history with the reintroduction of the black, green and gold colours. The Waves also debuted at the newly opened WA Basketball Centre.

In 14 seasons under Basketball WA, the team failed to make a finals appearance.

In April 2015, the team's licence was purchased by the Perth Wildcats and their chairman and owner Jack Bendat. The Wildcats subsequently brought back the Perth Lynx brand name and red colour.

In the 2015–16 season, the Lynx qualified for the finals for the first time since 2000. They went on to reach the grand final, their first since 1999, where they lost 2–0 to the Townsville Fire.

In the 2017–18 season, the Lynx won 14 consecutive games throughout the season and finished on top of the ladder, before losing four matches in a row after enduring seven flights in eight days. They lost to Canberra and Townsville in the final weekend of the regular season and were then swept 2–0 by fourth-placed Melbourne in the semi-finals.

In March 2018, the licence agreement with the Wildcats was extended.

In March 2020, the Perth Lynx's WNBL licence was transferred back to Basketball WA.

In the 2021–22 season, the Lynx finished in second place with an 11–5 record and reached the grand final, where they lost the series 2–1 to the Melbourne Boomers despite winning game one in Melbourne.

In the 2023–24 season, the Lynx finished in fourth place with an 11–10 record and defeated the first-placed Townsville Fire in the semi-finals to reach their second grand final series in three years. The Lynx won 101–79 in game one of the grand final series against the Southside Flyers. They became only the second team to ever score 100 points in a WNBL grand final and finished the game with 22 three-pointers. They went on to finish runners-up after losing game two 97–95 and game three 115–81.

In May 2024, Perth business couple Christian Hauff and Jodi Millhahn were revealed as the front runners to take over ownership of the Perth Lynx from Basketball WA. The couple had earlier in the year become minor investors in Sports Entertainment Group's sporting teams business, SEN Teams. On 13 June 2024, the Lynx's WNBL licence was transferred to Perth Lynx Pty Ltd, owned by Hauff and Millhahn, with management and operational support from SEN Teams. On 10 December 2024, SEN Teams took over from Hauff and Millhahn as majority owners of the Lynx. Hauff and Millhahn will remain shareholders and co-chair the club's board of directors.

During the pre-season in the lead up to the 2024–25 WNBL season, the Lynx played two games as part of HoopsFest at RAC Arena. During the 2024–25 regular season, the Lynx split their home games between Bendat Basketball Centre and the 4,000-capacity Perth High Performance Centre, returning to the latter for the first time since the 1990s. They will play three games at Perth High Performance Centre and make the venue their training base.