Ben Thanh market has long been one of Saigon's most famous landmark. The market has been in existence since the French occupation. The original market was located on the shores of Ben Nghe river by old fort Gia Dinh. Its proximity to the fort and the river where merchants and soldiers would land was reason for its name (Ben meaning pier or port and Thanh meaning fort). In 1859, when the French invaded Saigon and overtook fort Gia Dinh, Ben Thanh Market was destroyed. It was rebuilt shortly thereafter and remained standing until it was moved to its present location in 1899.

Built on a landfill of what was once a swamp named Bo Ret (Marais Boresse), the new Ben Thanh Market is located in the center of the city. Under the French government, the area around Ben Thanh Market was called Cu Nhac circle (Rond point Cuniac), named after Mr. Cuniac, the person who proposed filling the swamp to create this area. The area was later renamed Cong truong Dien Hong