The history of Santorini is linked to the volcano. Based on the findings of Akrotiri, Santorini was already inhabited by the 3rd millennium BC. Around 1600 BC the Minoan eruption takes place, sinking a central part of the island and creating the caldera (an underwater crater), an area of approximately 83 square kilometers. Because of this explosion, some researchers identify Santorini with the mythical Atlantis. Santorini was colonized by the Spartans, who gave the island the name of their king, Thira. With the rise of the Byzantine Empire, the island gets under the Byzantine control and after 1204 and the Frankish rule, passes to the Venetians. The Venetians are the ones to name the island Santorini, from the church of Agia Irini (Santa Irina).

In 1537, Santorini, like the other islands of the Cyclades, falls prey to the notorious Barbarossa and in a short time passes into the hands of the Ottomans. During the Ottoman rule Santorini enjoys trade privileges and economic growth. After the revolution of 1821 the island joins the newly established Greek state. This triggers a long period of commercial and maritime prosperity. The 20th century and the world wars "brake" the development of the island, while the great earthquake of 1956 seems to give Santorini the final strike. And yet, Santorini rises from its ashes (almost literally) and thanks to the volcano and the caldera becomes a top tourist destination and experiences a new golden age.