It is the church of the Apostolic Nunciature to the Kingdom of Spain of the Holy See and is now administered by the priests of Opus Dei.

The work was commissioned by Cardinal Infante Luis of Chinchón, Archbishop of Toledo, who subsidized construction with 1,421,000 reales.

On the facade, the allegorical statues of charity, faith, hope, and fortitude were sculpted by Roberto Michel and Nicolás Caresana.

Among the wood sculptures housed in the interior is the "Cristo de la Fe y del Perdón", by Luis Salvador Carmona.

The Italian composer Luigi Boccherini, who died in Madrid, was buried here until 1927, when Benito Mussolini repatriated the remains to the church of San Francesco in his native town Lucca.