She was the first vessel of that type built after the unification of Italy, though the Italian fleet inherited several screw corvettes from the navies of Naples, Tuscany, and Sardinia.

The design for Caracciolo was prepared by the naval engineer Giuseppe Micheli; she was the first screw corvette to be built by Italy following the unification of the country in 1861, though the unified Regia Marina (Royal Navy) inherited several sail and screw corvettes from the navies of the constituent countries, including Naples, Tuscany, and Sardinia.

While steaming at a speed of 8.5 knots (15.7 km/h; 9.8 mph), the ship could cruise for 960 nautical miles (1,780 km; 1,100 mi).

[3] By 1873, she had been moved to La Plata, Argentina, where she led a small division that also included the three screw gunboats Ardita, Confienza, and Veloce.

[5] By 1883, she had reached Australia; in December, she rendezvoused in Singapore with the screw corvette Cristoforo Colombo, which had been sent to protect Italian nationals in China.

The two ships then sailed north to China, where they patrolled the area to protect Italian nationals in the event of a conflict.

The voyage began in July and lasted for three and a half months, and included stops in the Azores, Gibraltar, Vigo and Cartagena in Spain, the Balearic Islands, and La Maddalena, Italy, before returning to Livorno.

[11] She was assigned to the Training Squadron in 1904, along with the old ironclads Lepanto, Castelfidardo, and Affondatore and the screw corvette Flavio Gioia.