The plaza was inaugurated on April 5, 1926, as part of the celebrations regarding the 100th anniversary of the independence of Peru, and the statue of Manco Cápac, previously located near the Plaza Grau, was placed on the site in 1933.[3][4]
The square also featured an obelisk in honor of President Augusto B. Leguía, which was later removed.[5]
In 1978, the King and Queen of Spain, Juan Carlos I and Sofia, visited Peru, taking a floral offering to the plaza's monument on November 23.[6]
A wall was built around the plaza to prevent crimes such as prostitution, and stood in the site for six years until its demolition in 2019.[7][8] A theme park based on the Incan Empire was also planned at one point, but the idea was eventually abandoned.[4][9]
^Hamann Mazuré, Johanna (2011). Monumentos públicos y espacios urbanos de Lima 1919-1930 (in Spanish). Universitat de Barcelona. p. 9788469417676. OCLC804953893.