Cardinale Vincenzo Costaguti (1612-1660) began its construction in 1647 with the help, it is thought, of architect Giovanni Antonio De Rossi (1616-1695). At its inauguration two years later it was named Villa Bell’Aspetto.

The Villa has hosted a number of notable guests: Her Highness Queen Christina of Sweden, Pope Innocent XII (1697) and Pope Benedict XIV (1746).
The Villa belonged to the Costaguti family until 1818, when Marquise Luigi Costaguti sold it to Duke Giovanni Torlonia. A few years later, in 1832, Prince Don Camillo Borghese acquired the Villa and from that time its name appears also as the Villa Borghese.

Rodolfo Borghese was the owner of the Villa when Gabriele D’Annunzio spent the summer and autumn there in the company of Eleonora Duse: during that time D'Annunzio composed “The Daughter of Jorio” (1904).
In 1925 the Villa, together with its park, was declared a National Historical Monument. That same year witnessed a visit by Benito Mussolini.

During World War II, on January 22, 1944, troops of the Fifth Army swarmed ashore on a fifteen-mile stretch of beach near the small towns of Anzio and Nettuno. Maj. General John P. Lucas, Commander of the U. S. Fifth Army's VI Corps and his staff occupied the underground level of the Villa. (World War II: Battle of Anzio)

Today the Park and the Villa are maintained in their ancient splendor by the descendants of Rodolfo, Prince Don Giovannangelo Borghese.