Private shareholders of the Societat del Gran Teatre del Liceu funded the theater, and construction began on April 11, 1845. It opened on April 4, 1847, on La Rambla. Miquel Garriga i Roca is credited with the building, though the article also says Joaquim de Gispert d'Anglí was entrusted with construction. It has no royal box, because the monarchy did not contribute.
A fire on April 9, 1861 left only the facade, entrance hall and foyer, and Josep Oriol Mestres rebuilt it by April 1862. A fire on January 31, 1994 destroyed all but the facade, hall and foyer. Ignasi de Solà-Morales led the rebuild, which reopened on October 7, 1999.
The auditorium is a horseshoe with a main floor and five balconies, 108 feet (33 m) long and 89 feet (27 m) wide. It seats 2,292 today, against 2,338 in the lead. The Fundació del Gran Teatre del Liceu has owned it since 1994.
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