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 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.

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.

The Museo de Arte Colonial (Colonial Art Museum) is housed within the oldest construction in Old Havana, the Condes de Casa Bayona Palace, a mansion rebuilt in 1720 by Cuban Governor, Don Luis Chachón. The palace’s Classical patio and coffered ceiling made intricately of wood stand out within this construction. The palace boasts a wonderful location, right in front of the San Cristóbal de La Habana Cathedral. This small museum has a Colonial furniture and decorative art exhibition, amongst which will stand out some pottery with Colonial Cuba motifs, as well as several scenes of Colonial dining rooms and a fantastic collection of ornamental flowers.