The Palacio de Pimentel, located in the Plaza de San Pablo, was the birthplace of Felipe II. The building, an example of palatial architecture in Valladolid, currently serves as the headquarters of the Provincial Council of Valladolid.

Although its construction began in the 15th century, it has gradually incorporated elements from later periods. Its construction began by order of the Marquis of Astorga, to become the property of Bernardino Pimentel, alderman of Valladolid and uncle of Alonso Pimentel y Pacheco, 2nd Duke of Benavente. He was the owner of the palace when Philip II was born inside it, as the royal family was housed in the palace to attend the Cortes held in April 1527. In 1530, the building was owned by the Counts of Rivadavia. Their heirs sold it in 1849 to Mariano Reynoso y Oscáriz, who in turn sold it to the Provincial Council of Valladolid in 1875, to set up his offices there, where they still remain.

The palace that has come down to us is very altered due to the major transformations it has undergone over time. It is organised around a courtyard, as is natural in the domestic architecture of Valladolid at the time. The courtyard is accessed through a vestibule, which communicates with the street through a late Gothic doorway with a segmental arch. On the outside, the most important feature is its famous Plateresque window, dating from the early 16th century, which is located on the corner. It is precisely this window and the tower that rises at this point that enhance the corner, a source of perspectives. The window has a bold arch and a grotesque decoration modelled on the paintings of the Domus Aurea.

The structure has two storeys in the main body and three in the tower. The materials used are brick, except for the corners, the doorway and the plinth, which are made of stone. From 1985 onwards, the palace underwent a thorough restoration according to a project by the architect Ángel Ríos.

Since the inauguration of the Exhibition Hall, after the restoration of the palace in 1990, with an approximate extension of 260 square metres, it has developed a line of exhibitions that combines the diffusion of local artists with those from other communities.

Legend has it that King Philip II was taken out of one of the palace's windows, from which a chain hangs, when he was born to be baptised in the Church of San Pablo, as he should have been baptised in the nearby parish church of San Martín if he had gone out of the palace door. However, it seems that the legend is a distortion of the real facts: for the baptism of Philip II, an elevated passageway was built between the church of San Pablo and the palace so that the royal family could pass through it without stepping on the street. As the passageway was elevated, one of the windows was used as an exit from the palace, although we do not know for sure which one it could have been.