Sixtus IV rebuilt the church from 1482 on the site of Sant'Andrea de Aquarizariis, and the original designer is unknown, though Baccio Pontelli has been proposed. Donato Bramante designed the cloister between 1500 and 1504, his first work in Rome, for Cardinal Oliviero Carafa. Raphael began the Chigi Chapel frescoes in 1514.
Pietro da Cortona designed the Baroque facade and semicircular portico between 1656 and 1667 for Pope Alexander VII, and houses were demolished to enlarge the piazza. The upper facade is travertine, cut in curved panels to match the grain. The infobox gives completion only as the 17th century.
It is a titular church and the Chilean national church in Rome. The monastery is now used for secular purposes, and the cloister holds an exhibition space and coffee bar.

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