It is located east of Zappeion and north of the hill of Ardittou. It has been a spot of athletics and sports since ancient times. Instead of Panathenaic that literally means "of all Athens" it is also called Kallimarmaro that refers to its "beautiful marble".
During medieval times though, its marbles were taken, and the significance of the stadium degraded. The first effort of rebuilding the stadium started when the capital of Greece was transferred from Nafplion to Athens. Some of the benefactors that contributed to the rebuilding process were Evaggelos Zappas and Georgios Averof while the architect of the reconstruction was Anastasios Metaxas. After the renovation, the capacity of the stadium reached the number of 45.000 spectators.
The works were finished in 1896, only a few months before the opening ceremony of the Olympic Games of that year. Over the last century, Kallimarmaron was used for cultural events, such as the opera Aida of Verdi, national celebrations, and, of course, athletic events such as archery during the Olympic Games of 2004.