The Ministry of Finance has its origins on the Comptrollerships of the Exchequer (vedorias da Fazenda) created in the 14th century to run the State's financial affairs.

After 1584, the comptrollerships are replaced by the Council of the Court of the Exchequer (Conselho do Tribunal da Fazenda).

In 1761, the Royal Treasury (Erário Régio) is created, and it becomes the central department of State Finance.

[1] The modern Ministry of Finance is created in 1788, then under the designation of Secretary of State for the Affairs of the Exchequer (Secretaria de Estado dos Negócios da Fazenda).

[1] In 1910, following the republican coup d'état, the department is renamed Ministry of Finance (Ministério das Finanças).