The party was initially formed in 1965 by Jean-François Thiriart as a political group to work alongside his Europe-wide movement Jeune Europe. However the PCE did not gain much attention until the 1970s, when, with the aid of Luc Jouret (later founder of the Order of the Solar Temple) and Joseph di Mambro, Thiriart managed to engineer a split in the Communist Party of Belgium (PCB) gain a new core of membership for the CPE.
Despite this, the PCE gradually declined in importance, particularly as Thiriart came to spend less time in Belgium. Many supporters of the PCE moved on to the Front National in the early 1980s as the group largely disappeared. The group was finally put to rest in 1984 with the foundation of the Parti Communautaire National-Européen, a group with similar ideas that Thiriart agreed to serve as advisor to.
The party is not connected to the European Community Party, a more recent initiative.