Located in the Casona Riva-Agüero of the historic centre of Lima, where Riva-Agüero lived until his dath, it serves a research centre for the human sciences that in 1955 reached the category of "School of Higher Studies" (Spanish: Escuela de Altos Estudios).

It is divided into six research sections: Archaeology, Law, Ethnology, philosophy, Language and Literature, and History.

The institute was founded three years after the death of Peruvian intellectual and politician José de la Riva-Agüero y Osma: the Pontifical Catholic University of Peru (PUCP), an institution to which he bequeathed his assets, welcomed an initiative by his friends and acquaintances to continue his life's work, agreeing to the institute's creation in October 1946 and formally founding it in a ceremony at his home at Lártiga Street that took place on May 18, 1947.

[2] It is considered one of the main attractions of the historic centre of Lima and one of the best preserved ancient buildings in the city.

The archive houses the documents inherited by Riva-Agüero from his ancestors, as well as those produced during his lifetime.