Built between 1663 and 1690, it was founded by Elector Ferdinand Maria and his wife, Henriette Adelaide of Savoy, as a gesture of thanks for the birth of the long-awaited heir to the Bavarian crown in 1662, Prince Max Emanuel.

The Mediterranean appearance and yellow coloring became a well known symbol for the city and had a lasting impact on Baroque architecture in Southern Germany.

Following the birth of crown prince and (later) elector Max Emanuel on 11 July, 1662, Agostino Barelli (Bologna) received the design contract.

The northeast corner of the Kreuzviertel, directly adjacent to the city wall and Schwabinger Tor, which lies opposite the Residence, was chosen as the building site for the church and monastery.

Barelli took as his model the Theatine mother church, Sant'Andrea della Valle in Rome.

The altarpieces were by Caspar de Crayer, Carlo Cignani, Georg Desmarées, and Joachim von Sandrart.

The monastery was built in Zuccalli's style, under whose direction the master builder Lorenzo Perti constructed the buildings.

When the Schwabinger Tor was demolished in 1817, the Theatinerkirche at Odeonsplatz became a significant focal point with the construction of Ludwigstrasse.

The Theatins gained a good reputation as pastors and scholars until the end of the 18th century, when increasing moral and financial decline became apparent.

The Theatinerkirche remained a collegiate and court church, while the convent building became the seat of the Elector's Finance, Justice and Spiritual Affairs departments (ministries), after the Department of Foreign Affairs had already moved into the still-existing Theatine monastery in 1799.