The stadium was renamed from Estadio Nacional to its current name on 5th July 2008, to honor the Chilean sports journalist Julio Martínez Prádanos.
Estadio Nacional Julio Martínez Prádanos is the Santiago-based national stadium of Chile, mainly used for football matches. It was built on a farmland donated by farmer Jose Domingo Cañas to the Municipality of Ñuñoa in 1918. The venue was opened on 3rd December 1938 and is known to be the largest stadium in Chile (with a seating capacity of 48,000). The stadium was first renovated for hosting the FIFA World Cup in 1962, and the capacity was increased around 75,000. The Olympiastadion (located in Berlin) inspires the structure of the stadium. The stadium was again renovated in 2009 that reduced the capacity to 48,665.
It was chosen as one of the venues for hosting the Copa America matches of 1991 and 2015.
Chile achieved its greatest success in international football on this ground by beating Yugoslavia by 1-0 in the third place play-off game of the 1962 World Cup.
On 17th June 1962, Brazil became the world champions for the second time after defeating Czechoslovakia by 3-1 in the World Cup final hosted by the stadium.
The South American Football Championships were hosted here in 1941, 1945 and 1955.
The final stage matches of the 1959 World Basketball Championship were played in this stadium.
The stadium witnessed its first sporting event on 3rd December 1938, which was a friendly football game between Chilean club "Colo-Colo" and Brazilian club "São Cristóvão", the match being won by Colo-Colo.