It was established in 1991 as Reina Sudamericana (South American Queen) and is headquartered in Santa Cruz de la Sierra, Bolivia.

Organized by Promociones Gloria, the pageant has expanded over the years and now features around 35 contestants from countries with Hispanic influence, reflecting its growing international reach.

The pageant celebrates Hispanic heritage, language, and culture, with regular participation from countries like Mexico, Puerto Rico, the Philippines, and Spain.

The current titleholder, Reina Hispanoamericana 2025, is Dia Maté from the Philippines, who was crowned on 9 February 2025 in Santa Cruz, Bolivia.

The year 2007 marked a significant milestone when the competition opened its doors to Mexico, Guatemala, Honduras, and the United States, prompting a name change to Reina Hispanoamericana to reflect its broader reach.