Christopher Columbus was the first European to arrive on Margarita Island in 1498. The local natives were the Guaiqueries people. The coast of the island was abundant in pearls, which represented almost a third of all New World tribute to the Spanish Crown. Margarita Island was fortified against the increasing threat of pirate attacks, and some fortifications remain today. It was the center of Spanish colonial Margarita Province, established in 1525.
In 1561, the island was seized by Lope de Aguirre, a notoriously violent and rebellious conquistador who killed the governor Juan Villadrando. Around 1675, the island was captured again, this time by Red Legs Greaves, a pirate known for his humanity and morality. He captured a fleet of Spanish ships off port, before turning the guns on the forts which he stormed and claimed a large booty of pearls and gold. The story of Greaves' capture of the island does not appear in historical Spanish records and may be fictional.
Construction of the Santa Rosa de la Eminencia castle was ordered by the governor, Juan Muñoz de Gadea, after the French buccaneer Marquis de Maintenon attacked the island in early 1676.
The island gained independence from the Spanish in 1814, after the collapse of the First Republic of Venezuela.
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