Carihuairazo is located in the Cordillera Occidental of the Andes of central Ecuador, 150 km (93 mi) south-southwest of the capital Quito.

Carihuairazo's Glacier lost almost all of its mass during the last decade as a result of global warming and ash covers caused by the recent volcanic activity[1] of its eastern neighbour Tungurahua.

[2] Carihuairazo must have been a Volcano of similar dimensions to its neighbour Chimborazo before explosions during the last period of activity destroyed the mass of the peak, leaving today's caldera.

Local Indian mythology narrates that Carihuairazo and El Altar which are both volcanic calderas have been destroyed by Taita (Father) Chimborazo fighting for the grace of Mama Tungurahua.

Carihuairazo was climbed by Edward Whymper, the cousins Louis and Jean-Antoine Carrel, and Ecuadorians David Beltran and Francisco Campaña, during their 1880 Ecuador expedition.