Opened on 25 October 2003 with an exhibition match between Benfica and Uruguayan club Nacional, it replaced the original Estádio da Luz, which had 120,000 seats.

This unofficial name caught on soon after the original stadium's construction;[8] the people of Lisbon used to simply call it a Luz ("the Light").

[10][11] Architect Damon Lavelle,[12] from HOK Sport Venue Event (now Populous), designed the stadium to focus on light and transparency.

The arches are 43 metres (141 feet) high and help define the look of the stadium, after having been shaped to be similar to the wavy profile of its three tiers.

[15] In the opening match, Benfica beat Uruguayan side Nacional 2–1 with goals from Nuno Gomes, who became the first ever scorer at the Estádio da Luz.