It was designed by architect Thomas C. Howard of Synergetics, Inc., in Raleigh, NC, in 1971.

The arena is used for concerts, sporting events such as basketball, volleyball, boxing, ice skating shows, and for circuses, and trade expositions, like auto shows, and expomuebles (furniture).

American Pop-star Michael Jackson was to perform a concert on 12 November 1993 but was cancelled due to his health problems.

Rent rates for Poliedro de Caracas on concerts and some sporting events ranges from $400-$1000 per day Poliedro de Caracas was finished in 1974, and officially inaugurated with the fight between George Foreman and Ken Norton, on March 26, 1974.

One of the main events that took place each year in El Poliedro (up to 2009, 2013 and since 2022), is the Miss Venezuela beauty pageant.