The construction of this historic building began in the 17th Century by order of Philip III, and was directed by Juan Gómez de Mora. It is a temple and college of the ecclesiastic order of the Society of Jesus. The Gothic altarpiece of the High Altar is a work of art by Juan Fernandez, while the paintings are by San Ignacio. The Church, the altarpieces and the sculptures are the most outstanding artistic features.

The Church and the College were the initiative of Margaret of Austria, wife of Philip III, in an attempt to make reparations to the Jesuits for the wrong done to St. Ignatius when he was imprisoned in Salamanca by the Dominicans.