The road that today constitutes the street was laid by Francisco Pizarro when he founded the city of Lima on January 18, 1535. In 1862, when a new urban nomenclature was adopted, the road was named jirón Ayacucho, after the Department of Ayacucho. Prior to this renaming, each block (cuadra) had a unique name:
Block 10: Huaquilla, after a huaca located there.[12]
Block 11: Naranjos, after an orange field located there.[13]
Block 13: Ancha/Cinco Esquinas, for its width in comparison to other streets at the time, and for reaching a point where five corners are located, respectively.[14]
The Edificio Fabbri, whose construction concluded in 1890, is located in the street. During the 17th century, it belonged to the heirs of Pedro Gavilán y González de la Torre, thus acquiring the name of the "Casa de los Gavilanes" (a play-on-words on the heirs' family name). It was acquired in 1867 by the Peruvian State to house its official printing press, organised by Manuel Atanasio Fuentes [es].[15]