The monk seals were the island's only inhabitants when it was discovered by the Spanish conquerors of the Canaries archipelago in the fifteenth century, but with the arrival of humans, these animals were hunted on a massive scale by sailors and fishermen who saw them as a source of food, fat and skin.

Recent archaeological findings have concluded that Ancient Rome established a (possibly seasonal) settlement in the island, related with the obtention of purple dye.

Because of its great ecological diversity the site has been designated as a protected zone, the Parque Natural del Islote de Lobos.

There are over 130 plant species, including the siempreviva (Limonium ovalifolium), which is endemic to the island, and the sea uvilla (Zygophyllum fontanesii) which is very attractive because of its shape and color.

The island is a popular location for day trips for tourists visiting from Fuerteventura who have an interest in flora, fauna and geology.

The paths take visitors from the boat jetty through a varied landscape, including to the lighthouse at Punto Martino and to the top of the caldera.

Visitors, before 2007, could ask for authorisation from Fuerteventura local government's environment office to camp on the island, for a maximum of three nights, in one permitted location known as "El carpintero".