Ye Olde Cheshire Cheese is one of a number of pubs in London to have been rebuilt shortly after the Great Fire of 1666. There has been a pub at this location since 1538. While there are several older pubs which have survived because they were beyond the reach of the fire, or like The Tipperary on the opposite side of Fleet Street because they were made of stone, this pub continues to attract interest due to the curious lack of natural lighting inside which generates its own gloomy charm.

Some of the interior wood panelling is nineteenth century, some older, perhaps original. The vaulted cellars are thought to belong to a 13th-century Carmelite monastery which once occupied the site. The entrance to this pub is situated in a narrow alleyway and is very unassuming, yet once inside visitors will realise that the pub occupies a lot of floor space and has numerous bars and gloomy rooms. In winter, open fireplaces are used to keep the interior warm. In the bar room are posted plaques showing famous people who were regulars.

The pub is currently owned and operated by the Samuel Smith Brewery.