The Kinsky Palace was built in 1755-1765 on the site of three existing buildings with early medieval foundations. The southern-most building, first mentioned in the year 1363, was preceded by a 12th century Romanesque building, whose ground floor constructed from ashlar masonry is still preserved in the palace's cellar. After 1560, when the house was owned by the Trček family of Lípa and later the Příchovský family of Hodějov, the building underwent Renaissance renovations.
The northern part of today's palace was built in the second third of the 13th century. The influence of the medieval way of life is documented in today's cellars located in what was originally the ground floor, including their Early Gothic cross-vaulting. The buildings were first joined in 1508, when Albrecht of Kolowrat rented them. In around 1583 the building's northern part underwent reconstruction, during which a balcony was added to the facade. Johann Ernst, Count Golz acquired the northern part of the building by no later than 1750, and sometime before 1755 he purchased the southern part and joined the two. Upon the sale of the palace to František Oldřich Kinský in 1768, construction was completed and the building was possibly decorated with statues by I. F. Platzer. In the 1830s the palace was further expanded through its connection to the northern (left) building at lot No. 607, in which we also find preserved Gothic cellars. The whole was remodelled in the classical style.
The complex comprises a main building fronting the square, a left wing, a transverse wing, buildings facing Týnská Street and side wings. The rear building on Týnská Street dates to 1838, like the later classical modifications of the facade. At the same time, both palace courtyards were modified, the rear courtyard originally serving for commercial purposes. This courtyard still houses a preserved well with a rectangular cistern. The palace has been under the National Gallery's administration since 1949.