The I.B.P. Century Club was established in the year 1934 with a purpose to provide a recreation centre to the stalwarts of erstwhile Vizagapatam. Society Club, as it was known earlier, was no less than a powerhouse that had hosted many social activities for the `think-tanks' of Vizagapatam. With generous donations by the zamindars, the one-room structure grew in strength and stature. Maharaja of Jeypore was one of the founding members of the club. Apocryphal perhaps, but charming to know that administrators, poets and writers of yesteryears had spent many relaxing evenings exchanging views on literature, sports and administration after a day-long work. The club was later re-christened as Izzat-Asar Balasurya Prasad Rao Century Club (I.B.P. Century Club), Visakhapatnam.

His Excellency Lord Erskine, C.C.L.E., laid the foundation stone on the 20th of December, 1934. The club was registered under the Societies Registration Act, XXI of 1860 on the 11th of August, 1933 with the number 04/1933-1934.

Since 1934, the club has been a hub of activities encouraging literary, sporting and socialising activities of its members. At present more than 1,000 people are having Life, Regular and Honourary Membership of this club. The club has members from all walks of life i.e. doctors, lawyers, professors, businessmen and others having good standing in the society. Ministers, IAS, IPS, senior government officials and sports personalities hold Honourary Membership of the club.

The I.B.P. Century Club is one of the most prestigious ones in South India and has affiliations with the reputed clubs situated in the country.