The festival was established in Messina, Sicily, in 1955, and in 1957 grew to include Taormina,[1] at the same time introducing the "Cariddi d'Argento" (Silver Charybdis) awards.

[6][7] However, BNL dropped its €500,000 sponsorship before the 2006 event, much to director Felice Laudadio's disgust at the late decision, taken in January.

[1] Over the years Taormina Film Fest has hosted over the years many stars of international cinema: Elizabeth Taylor, Marlene Dietrich, Sophia Loren, Cary Grant, Robert De Niro, Colin Firth, Marlon Brando, Charlton Heston, Audrey Hepburn, Gregory Peck, Tom Cruise, Melanie Griffith, and Antonio Banderas, among others.

[2][1] As of 2023[update], the festival runs for nine days, and includes film screenings in three locations (Teatro Antico, Palazzo dei Congressi, and Casa del Cinema) and masterclasses.

[9] The directors of Taormina Film Fest have been: Separate from the Nastro d'Argento, the festival also awards other prizes:[2]