The club was founded in 1887 in an area where Gaelic games had been played since before the foundation of the GAA in 1884. A Pallasgreen team beat Abbeyfeale in a tournament final at Corcanree. They competed in tournaments at various locations in County Limerick and many from the parish played with Knockane which had already been founded in 1884. The club was formed as 'New Pallas Milesians'. During those early years, Pallas, Knockane and Oola were all strong and players often interchanged between clubs. 

In 1898, Pallas contested their only Limerick Senior Football Championship where they were defeated by the Commercials. However, in 1911 they beat South Liberties in the County Intermediate Football Championship final. The club almost solely played football up to 1914 when a junior hurling team was formed. That team won the County Junior Hurling Championship the following year, beating Granagh in the final