We study the effect of the Basset history force on the dynamics of small particles transported in homogeneous and isotropic turbulence and show that this term, often neglected in previous numerical studies, reduces the small-scale clustering typical of inertial particles. The contribution of this force to the total particle acceleration is, on average, responsible for about 10% of the total acceleration and particularly relevant during rare strong events. At moderate density ratios, i.e. sand or metal powder in water, its presence alters the balance of forces determining the particle acceleration.