It was erected in 1492 under the design by Renaissance architect Mauro Codussi.

It lies on the site of a previous church dating from the 7th century, which, according to tradition, was one of the eight founded by San Magno, bishop of Oderzo.

The name "formosa" relates to an alleged appearance of the Holy Virgin disguised as a voluptuous woman1.

The artworks in the interior include the Saint Barbara polyptych by Palma the Elder, one of his most celebrated works.

The Conception Chapel houses a triptych of Madonna of Misericordia by Bartolomeo Vivarini (1473), while in the Oratory is the Madonna with Child and St. Dominic by Giambattista Tiepolo (18th century).