The church was built by the Confraternita del Suffragio, the intention being to establish a place where people could pray for the souls of those who had died.
The confraternity was created in 1592 in the parish of San Biagio alla Pagnotta. It was recognised by Pope Clement VIII in 1594, and named an Archconfraternity by Pope Paul V.
Due to a large increase in the number of people visiting the original site, it became necessary to find a new location, and thanks to donations by members, as well as a legacy left by Bartolomeo Ruspoli, the current church of Santa Maria del Suffragio was built.
