It is the goal of the museum to preserve and disseminate Diego Rivera's artistic work,[1] as well as organize temporary exhibits and conferences and events, talks, concerts and other art activities.

It had previously been housed at the Hotel del Prado, which was severely damaged in the 1985 Mexico City earthquake.

[4] In 1946, architect Carlos Obregón Santacilia asked Diego Rivera to create a mural for the Hotel del Prado's Versalles dining room.

The mural shows more than 150 figures, some of them leading characters the history of Mexico: Hernán Cortés, Benito Juárez, Maximiliano de Habsburgo, Francisco I. Madero, Porfirio Díaz.

It also shows Frida Kahlo and other wives of the artist, as well as some of his daughters; the Alameda Central itself can be seen in the background.