It is one of the oldest buildings of Izmir, which is located in Konak district at the intersection of Akdeniz Mahallesi, Gazi Osman Pasa Boulevard, Necatibey Boulevard and Kazim Dirik Street. The church was dedicated to St Polycarpe, the bishop of Izmir, who lived between the years 69-155 and was one of the first disciples of St. John and was later declared as Saint. Despite the pressure of the Roman rulers to discourage his belief, Polycarpe did not give up his faith, and on 23 February 155 he was burned to death at the Roman Stadium on the outskirts of Kadifekale. Today's church, named after him, was built in 1625 with the permission of Sultan Süleyman. It was repaired after the great fire of 1680.

The church was restored in 1775 with the permission of the Ottoman authorities and with the support of Louis 16, and took the form of a three-aisled basilica. The building was extended with enlarged chapels and decorated during the restoration between 1892-98. At the end of the last century, the young French artist, painter, architect Raymond C. Pere, who lived in İzmir, reflected the life story of Polycarpe to the frescoes he built inside the church.