As currently constituted the Royal Naval Club and Royal Albert Yacht Club dates from 1971 following the amalgamation of the two famous old Clubs.

The Royal Naval Club was formed by four Royal Naval Lieutenants serving on board HMS Bellerophon anchored off Spithead in September 1867. From those humble beginning grew a Club of international prestige and importance graced by kings and princes and at one stage could claim to have one hundred and sixty Admirals on the books and no less than nineteen recipients of the Victoria Cross.

The Royal Albert Yacht Club takes its name from the Albert Yacht Club formed in 1864 under the patronage of Prince Albert who was a very keen sailor. The following year the "Royal" was added by gracious permission of Queen Victoria and at the same time the Club assumed responsibility for the Portsmouth and Southsea Regattas held in the eastern Solent. For the next seventy years the Club continued to prosper and in 1939 sold its home in Southsea and for the duration of the war was housed within the Royal Naval Club. After the war however the Club moved out and joined up temporarily with the Royal Portsmouth Corinthian Yacht Club only to move on again at the time of the amalgamation.

Club Premises were originally formed from three separate properties. In April 1868 the premises of the Hampshire Banking Company were purchased for £900 and now form the western half of the present Club. At a meeting in June 1871 it was resolved to buy the property adjoining the Club, the Fitzclarence Tavern and the private residence attached for £1,400. Joining together of the three buildings was completed in 1875 and the distinctive tower extended to its full height at the same time.