It contains artifacts, objects and historical items relating to the history of Guayaquil.

It is located in the center of the city of Guayaquil, in the same building as the Municipal Library.

[5] The museum has gone through a variety of moves and renovations, acquiring its own building for the first time in 1916.

[12] In 2022 there was a retrospective exhibition of Yela Loffredo's work in "her" museum.

[13] The poet and writer Rosa Amelia Alvarado made an open request to the city's mayor to suggest that the Guayaquil Municipal Museum should be renamed after Yela Laffredo.