Originally founded as a visita of Sta. Ana de Sapa under the jurisdiction of the Franciscans, Makati was first dismissed as "worthless" swamp land by the Spanish conquistador Miguel Lopez de Legazpi in 1571.

Yet over the centuries, this small community would leave large imprints in social, economic and cultural history. The friars established two of the earliest churches in the Philippines - the Nuestra Señora de Gracia in Guadalupe and the Church of Sts. Peter and Paul - in Makati, drawing pilgrims from all over the country.

At the turn of the century, the Americans established Fort McKinley in Makati.San Pedro de Macati, with a population of 2,500, was incorporated into the province of Rizal.

The Philippine Legislature passed Act 2390, shortening the name San Pedro Macati to Makati in the 1930s, the first airport of Luzon, Nielson Field, opened in what is now the Ayala Triangle.The first centrally planned community was established in the 1950s, and since the 1970s, Makati has been the undisputed financial and commercial capital, the once worthless swampland becoming prime real property.[citation Makati was separated from Rizal province.

Makati has also figured prominently in the political history of the Filipino. The community was one of the cradles of the revolt against Spanish colonial rule, and following the assassination of Ninoy Aquino in 1983, the epicenter of the protest movement against the rule of President Ferdinand E. Marcos.

Jejomar C. Binay was inaugurated as an acting mayor by Corazon C. Aquino after the People Power in EDSA and he was elected as the real mayor in 1987.Makati became an independent city by virtue of Republic Act 7854.The Lone District of Makati City were separated and divide them into 2 districts. Lone District Representative Joker Arroyo became the representative of the first district, while Senator Agapito Aquino was elected representative of second district.