The Flames relocated to Calgary in 1980 after spending their first eight seasons in Atlanta, Georgia, as the Atlanta Flames. The Flames spent their first three seasons playing in the Stampede Corral before moving into their current home arena, the Olympic Saddledome (now Pengrowth Saddledome), in 1983. The Calgary Flames have an agreement to manage the Saddledome until July 2014.  In 1986, the Flames became the first Calgary team since the Tigers in 1924 to compete for the Stanley Cup. In 1989, the Flames captured their one Stanley Cup.

Calgary is one of two NHL franchises in Alberta, with the other being the Edmonton Oilers. The cities' proximity has led to a famous rivalry, known as The Battle of Alberta. Games between the teams are often heated and combative events.

After seven consecutive seasons of not making the playoffs, the Flames finally returned to the post-season in 2004. The Flames became the first team in NHL history to defeat three division champions on their way to becoming the first Canadian team in a decade to advance to the Stanley Cup Finals.

The Flames' first victim was the Northwest Division champion Vancouver Canucks, whom they defeated in seven games. It was the Flames' first playoff series win since they won the 1989 final.   The Flames then upset the Detroit Red Wings, winners of the Presidents Trophy with the leagues best record, in six games. The Pacific Division champs, the San Jose Sharks, were eliminated in six games in the Western Conference Final and the Flames would  face the Tampa Bay Lightning the 2004 Stanley Cup Finals.