The stadium was built in the 1960s along the Rímac River for local football use and was originally named Estadio San Martín de Porres.

In the middle of 1995, Sporting Cristal signed an agreement with the Instituto Peruano de Deportes which would lease the stadium to the club.

The stadium had a total capacity of 20,000 spectators in its four stands in the 1960s but it has been reduced to 11,600 due to the safety regulations in the Peruvian 30037 law against violence in sports events.

The restriction of this stand has prevented high-risk matches from being hosted in recent times, notably against rivals Alianza Lima and Universitario de Deportes which are customarily played in the Estadio Nacional.

In 2010, Sporting Cristal took advantage of the ongoing renovation of the Estadio Nacional to play rivals Alianza and Universitario in their home stadium.