The Central Market of San Pedro, located in the heart of the historic center, is not only the most important market in the city, but also the oldest. It is located in front of the Plazoleta San Pedro and Santa Clara Street, which follows the route of an ancient Inca road that connected the capital of the Tawantinsuyo with the Contisuyo region, starting from the Huacaypata, the central Inca plaza.

The history of the market dates back to the late 1910s, during the administration of Manuel Silvestre Frisancho, who was mayor of Cusco and deputy at the time. Frisancho promoted the transfer of the market from the Plaza de Armas and the Plaza San Francisco, where the city's supply transactions were traditionally carried out, to the San Pedro neighborhood, to the west of the city. The new site chosen was the "pampa de Qasqaparo", a piece of land belonging to the Santa Clara Convent, located in front of the San Pedro Church. At that time, this area already housed the municipal slaughterhouse, and the decision to move the market there was motivated mainly by health concerns.

The construction of the market was carried out in two phases. The first phase began in 1925, and the market was inaugurated on June 7 of that same year, when it began operating as such. However, the complete construction of the market was not completed until 1950. The oldest part of the structure was designed by French civil engineer Gustave Eiffel, who was approached by Mayor Frisancho for the project. The structure, in its time, became the largest covered surface built in Cusco and was initially popularly known as "Mercado Frisancho". Emilio Astete was its first administrator.

In 1955, after the 1950 earthquake and the consequent population growth of Cusco, the building was expanded, which implied the demolition of the southern block of the market. From that moment on, the San Pedro Market was consolidated as the main commercial center of the city, generating a great dynamism in the surrounding streets.

The structure of the building is notable for its neoclassical design and is constructed mainly of iron, with a calamine roof, metal grille doors, and cement walls and floors. The roof, with a gabled, three-tiered structure, is supported by a series of columns distributed along the rectangular-shaped block. The columns, which vary in size according to their location, are taller in the center and decrease in height and thickness towards the sides, all of which are clad in concrete. The iron trusses are assembled with thermally fastened rivets, ensuring a solid construction. In addition, the tension beams and scissor beams, made from imported Araucanian pine and Oregon pine, complement this ingenious structure. The second phase of the market, located to the southeast and intended for the sale of prepared foods, faithfully maintained the original design.

Over the years, the San Pedro Market has evolved from a traditional food market to a market with a tourist focus. Today, it has 1180 stalls, which generates considerable commercial movement both inside the market and in the adjacent streets. The market is organized in blocks that are distinguished by the types of products they offer, from groceries, meats, fruits and vegetables, to clothing and items related to Andean shamanism. This market has become a reference point not only for local residents, but also for tourists looking for an authentic experience in the city of Cusco.