The square is dedicated to Queen Maria de las Mercedes, wife of Alfonso XII. During the Republic Square was called the Region.

In this square was installed in 1930, the first light of Valencia. What manually triggering an urban guard.

In the 30s of the twentieth century, the nineteenth-century buildings on the street began to be replaced by others of Rationalist and Art Deco style. This occurred in the stretch of the Maria Cristina Avenue to the Plaza de San Agustin.

In 1844 he was one of the first to be lit by gas lamps and in it the first cinemas (Romea, Turia, etc.) were also established. Olympia, now a theater, cinema was built in the grounds of the convent of San Gregorio, demolished in 1911.

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