The current appearance of the square is due to an extensive restructuring phase that began in 1569 with the construction, on several occasions, of the two large loggias that today distinguish the space, opening towards the two main buildings: Palazzo degli Studi and Palazzo dei Priori. In ancient times the square was dedicated to San Martino and took its name from the small church of the same name, later incorporated into the construction of Palazzo dei Priori.