I'm not sure how substantiated this is by more modern historians, but in his book The First Whigs. The Politics of the Exclusion Crisis, J.R. Jones claimed that the first political factions--which resemble modern political parties in that they cohere around a basic, albeit occasionally fluid, set of principles--emerged from the Exclusion Crisis and Glorious Revolution in England during the late 1600s. The earliest political factions consisted of the Whigs and Tories, who originated in the Royalist (or "Cavalier") faction of the English Civil War.

Source: J.R. Jones, The First Whigs. The Politics of the Exclusion Crisis. 1678–1683 (Oxford University Press, 1961), p. 4.