It is also called San Giacomo in Settimiano or in Settignano, due to its vicinity to Porta Settimiana, built by Septimius Severus and included by Aurelianus within the city walls.

The church has medieval origins: it probably dates back to the papacy of Leo IV in 9th century.

However, the former documents attesting its existence are papal bulls promulgated in 1198 and 1228, when the church was declared a branch of St. Peter's Basilica by Pope Innocent III.

The most famous work of art is the Memorial to Ippolito Merenda by Gian Lorenzo Bernini: a gravestone with the shape of a puckered sheet, sustained with both hands and teeth by a winged skeleton.

The high altar houses a painting by Giovanni Francesco Romanelli portraying James the Apostle.