The street is named after the statue of Christopher Columbus located in the avenue.

[1] The place where the Paseo Colón extends today constituted, during the viceregal era, the southern limit of the city where the Walls of Lima stood.

[2] In 1898, during the government of President Nicolás de Piérola, the avenue was drawn up with the name of 9 de Diciembre[3] and would later be renamed Paseo Colón due to its pedestrian nature.

[4][5] From the moment it was laid out, Paseo Colón was considered an aristocratic avenue since it was located in the middle of the Parque de la Exposición.

[6] However, this road suffered a great deterioration during the eighties, currently it has undergone an efficient recovery.