The plaza is emblematic of the university, with there being activities of all kinds: cultural, academic, political, social, etc.

As part of the campus, it was made a World Heritage Site in 2000.

It was originally inaugurated on 2 December 1953[2] as a parking lot with additional designs from Francisco Narváez.

President Jaime Lusinchi, as a graduate of the Central University of Venezuela, sought during his government to improve relations between the government and the university, and among its measures was the construction of the Plaza del Rectorado in what was initially a parking area.

The agency responsible for contracting was the Ministry of Public Works, engineer Juan Pedro del Moral, the Bomanite construction company of Venezuela, and Jorge Casado Salicetti.