It takes its name after St. James' Church (Sankt Jakobs Kirke) on the other side of the street.
The church also lends its name to Sankt Jakobs Gade which runs south-east, connecting the square to the beginning of Randersgade at Lutherkirken, just off Nordre Frihavnsgade.
Rothesgade runs east to Randersgade from where it continues as Gammel Kalkbrænderi Vej to Strandboulevarden.
Several restaurants and cafés are located on the square, including brasserie Le Saint Jacques run by Daniel Letz, the former head chef of Kong Hans Kælder who received the first Danish Michelin star in 1984.
[1] Letz also owns a delicacy store at 4 Sankt Jakobs Gade.