The theater was built in 1860 with architect Pedro Marques by the local Portuguese to honor the celebration of their king, Peter B. It was a regular meeting place for the Portuguese and Macanans living in Macau.
Dom Pedro V Theatre is 42 meters long and 22 meters wide. The green and white property features a neoclassical style, much like the majority of European theatres of its time. The performance hall has a capacity of 280 seats which are spread in curved rows on ground level and on the semi-circular balcony seating area.
In 2005, the theater became one of the designated sites of the Historic Centre of Macau enlisted on the UNESCO World Heritage List.