This parish is located in the Barrio Yungay, an historical neighborhood of Santiago built after the civic neighborhood that was declared Typical Zone for the contribution it has made to cultural identity of Santiago.

The construction of the church was first initiated by the priest Luis Benavente in 1830 on the site where the first penal institution of Santiago was located, due to the sharp growth of population in the area. There, an adobe and wood chapel was erected. An image of Saint Saturninus, masterpiece from Quito, was brought by Friar Gaspar de Villarroel, Augustine priest who was born in Quito. The image represents an elderly Roman martyr, who was beheaded during the 10th persecution of Christians. By 1557, it had a hermitage located west of the Santa Lucía hill, which was destroyed in 1607; afterwards it was transferred to the San Francisco church.

In 1887, it was rebuilt in the style it has nowadays, a project by the German architect Theodore Burchard. On the other hand, Luis Nogués was in charge of the decoration. A year later, a historical monument was inaugurated in the square where the parish is located: the monument to the “Roto Chileno” by the sculptor Virginio Arias. The church location was transcendental since it reflected the tolerance of neighbors in the 19th century. Most of them were lay and partisan of the Church-State separation.

In 1892, the archbishop Mariano Casanova ordered the transfer of an image of Child Christ of the Good Hope to the temple under construction and consecrated this church in dedication to the Good Hope, for worshipping the virtue of God’s hope and merciful love.

The 2010 earthquake that struck central and southern Chile, caused serious damages in the building. A part of the bell tower fell on the street and adobe pillars were damaged. Due to the risk to worshippers, it was closed to the public and any activity or religious celebration.

In 2012, it was announced that the Undersecretary of Regional Development and Administration would commit the necessary resources to begin the restoration process, thanks to a special fund for reconstruction of cities and towns affected by the earthquake. As of mid-2016, restoration works were about to begin.