[3][4] Influenced by neoclassical architecture and the Belle Époque, the Olympia was inaugurated on April 24, 1912, during the government of Intendant Antônio Lemos, by businessmen Carlos Augusto Teixeira and Antonio Seabra de Almeida Martins, who owned the Teixeira Martins Company (administrator of the Grande Hotel, the Palace Theatre, now the Princesa Louçã Hotel, and other cinemas in Belém in the 1920s and 1930s).

[5][6][7] At the beginning of the 20th century, Belém experienced a strong cultural influence from the United States and the European continent due to the connections caused by the export of rubber, which was starting to decline in Brazil.

[8] The Cine Olympia is the oldest operating movie theater in Brazil, given that its location has always been the same and it hasn't stopped its activities for a long time.

[8] Cine Olympia was responsible for screening the first spoken film in Pará, on November 30, 1930, with the American tape The Love Parade (1929).

[8] With numerous economic and administrative difficulties, the Severiano Ribeiro Group, which used to run it as the São Luiz Company, almost closed the doors of the cinema in 2006.

In 2016, the renovation project was approved by the National Institute of Historic and Artistic Heritage (IPHAN) and included improvements to the exterior and interior, as well as the purchase of sound and digital projectors.