Construction on the building started on 27 April 1884, under the direction of Giuseppe Orsi, intended as the family residence of Joaquin Crespo.

Also participating: painter Julián Oñate, Juan Bautista Sales and his team of sculptors, decorators, wood carvers, builders - who erected the European-style Miraflores Palace.

In 1911, the national administration acquired the property from General Félix Galavis at a cost of five hundred thousand bolívares, and Miraflores Palace became the official presidential residence and office.

In the dictatorship of Marcos Pérez Jiménez, architect Luis Malaussena introduced radical changes inside the palace, eliminating part of Crespo's era decoration.

With a volume of documents of nearly 15 million pages, the Miraflores Historical Archive has the mission to preserve the files of Venezuelan presidents.

This process began in 1959, when Secretary of Presidency Ramón José Velásquez, undertook the rescue and recovery of files corresponding to the governments of Cipriano Castro (1899–1908) and Juan Vicente Gómez (1908–1935), located in the basement of Presidential Guard.

The room is used to receive heads of state and government and for special occasions such as the recognition with the Order of the Liberator to personalities of politics, culture and society; award only given by presidential decree.

In Ayacucho room emphasizes a painting of Simón Bolívar, located behind the desk where the President addresses the country via radio, television, and the internet.

It is one of the largest rooms of the palace, and is named in honor of the battle won by Simón Bolívar on 7 August 1819, after which most of the Colombian territory was freed.

Both sides include pieces of the artistic heritage of Miraflores, such as the painting Bolívar by Cirilo Almeida and a bust of Carlos Soublette.

In front of the vestibule are located a charcoal work representing Francisco de Miranda and a portrait of José María Vargas by painter Alirio Palacios.

Also, there is a miniature of the monument erected in Campo Carabobo, the painting La Patria al Soldado (From Nation to Soldier) by Hugo Daini, and a bust of Bolívar in the entrance of the meeting room.