The temple was begun in 141 by the Emperor Antoninus Pius, and was intitially dedicated to his deceased and deified wife, Faustina the Elder. When Antoninus Pius was deified after his death in 161, at the instigation of his successor, Marcus Aurelius, the temple was re-dedicated jointly to Antoninus and Faustina.

The building stands on a high platform of large peperino blocks. The later of two dedicatory inscriptions says, "Divo Antonino et Divae Faustinae Ex S.C." meaning, “To the divine Antoninus and to the divine Faustina by decree of the Senate.”

The temple was converted to a church, known as San Lorenzo in Miranda, perhaps as early as the seventh century, but it is only attested from the eleventh century Mirabilia Urbis Romae.[1] "Miranda" may derive from the name of a benefactress.[2] It was then thought that this was where St Lawrence had been sentenced to death.