This square dates back to the first half of the 17th century. Its location, just a few metres from the bay, led to it becoming an important trading square over the years. It is said that around the year 1600 the first fountain of the city could be seen at this square. In 1836 it was replaced by a beautiful fountain made of white Carrara marble by Giuseppe Gaggini, under the good auspices of the Villanueva Count. This fountain is called Fuente de los Leones (Lions Fountain). On its paved area stand two noteworthy buildings: the Monastery and Basilica of San Francisco de Asís, which today houses the Museum of Religious Art and a concert hall. It is also where the Lonja del Comercio (Chamber of Commerce) is located, inspired by Spanish Renaissance architecture and topped by a dome on which a sculpture of the god Mercury stands. Among the houses built around the plaza, the house of the Arostegui family, residence of the Captain Generals until the completion of the City Hall at the end of the 18th century, was erected.

The neighbors of the town insisted to the town council on the need to create a new public square for their amusement. In 1587, the town council decided to use as a public square the area behind the Convento de San Francisco, which was being built at the time. During the latter decades of the 16th century, this square was called the Plaza Nueva (new square), but from the 18th century onwards, once the Plaza del Cristo had been built, it began to become known as the Plaza Vieja (old square). The most remarkable feature of this square are the buildings around it, with their unquestionable historical and artistic importance of having been the blueprint for a style of architecture which, along with certain developments, subsequently spread throughout the city and characterised the Cuban architecture of the 18th century.

Currently the venue of the Office of the Historian of Havana, the palace was built in 1776 and has been given several functions: official residence of the Spanish governors of the island from 1781 to 1899 and of the presidency of the republic from 1902 to 1920. The City Museum currently occupies part of the sumptuous halls with permanent exhibition of arts and history of the colonial times and of the beginnings of the 20 th century. The museum exhibits valuable treasures such as: the first Cuban flag, personal effects of the heroes of Cuba: Jose Martí, Máximo Gómez and Antonio Maceo together with a priceless collection of colonial furniture, carriages and other works of art.

The Palacio del Segundo Cabo (Segundo Cabo Palace) is located on the north side of Plaza de Armas Square, Old Havana. This majestic palace is Neoclassical in style and was built in 1772 with local limestone full of holes and calcareous marine incrustations. This building was first built as headquarters of the Spanish vice-governor. Currently, and after several reworkings during which it functioned as Post office, Senate Palace, Supreme Court, National Academy of Arts and Letters, or the Cuba Academy of Science, nowaday it belongs to the Cuban Ministry of Culture, and it hosts the Centre for the Interpretation of Cuba-Europa Relationship.