[1] The market was built to accommodate the large amount of trade generated by the Belém-Bragança Railway, whose last stop was in the São Brás neighborhood.

Materials and workers were imported from Italy, and the work was executed by the Italian engineer Filinto Santoro, who was also responsible for the Augusto Montenegro Palace and the Gentil Bittencourt School.

[2][3] In 1988, during the administration of Mayor Fernando Coutinho Jorge, the market underwent a major renovation with significant changes to spatial aspects and use.

[2][3] The São Brás Market is managed by Belém City Hall through the Municipal Secretariat for the Economy (Secon).

Despite the intense flow of people, the area around the building lacks security, which has led to frequent assaults and thefts in Floriano Peixoto Square, located near the market.