The origin of this spectacular waterway is still shrouded in mystery. The most plausible assumption is that the present-day canal follows the course of an ancient river that used to flow into the Venetian lagoon. With the establishment of the flourishing settlement on this place during the Roman and the Byzantine rule around the 9th Century, the local citizens noticed the comfort of the canal and turned it into a deep trading port, accessible for sea ships.

During the Middle Ages the Canal Grande was gradually surrounded by imposing buildings called fondaco. They served simultaneously as residences and warehouses of rich Venetian traders. The significant effect of the intense commercial relations between Venice and Byzantium is apparent when one notices the architecture and cultural life of the city. With the start of the Renaissance, a number of palaces appeared in the area. The most spectacular of them are Palazzo Dario, Palazzo Grimani and the widely known Ca' d'Oro. This diversity makes Canal Grande arguably the most beautiful part of the city and the scene for a number of magnificent events. The Historical Regatta that takes place on the first Sunday in September draws crowds of participants and a grand audience. The pilgrimage over Canal Grande to the Basilica di Santa Maria della Salute is among the greatest events in Venice.