The Communist Party of Peru (Marxist-Leninist) was founded in January 1964 following a split in the Communist Party of Peru and was initially known as the Communist Party of Peru – Red Flag (Partido Comunista Peruano – Bandera Roja).
In 1969, after a second split, it became the Communist Party of Peru (Marxist-Leninist).
The PCP (ML) participated in the 1978 Constituent Assembly elections on the list of the Front of Workers, Peasants, Students and Popular Labourers (FOCEP). FOCEP won 12 of the 100 seats.
The PCP (ML) is a member of the CIPOML.