The church was built in the 12th century, and was originally called San Salvatore in Corte.
The church is named after a miracle that took place nearby on March 28th 1730. A young man, depressed because he was unable to find a job, was about to commit suicide by throwing himself off the bridge into the Tiber when he saw a bright image of the Blessed Virgin on a wall. He changed his mind, and found a job within days. Later, a blind man got the use of his eyes back thanks to the same image, which was named Our Lady of the Light. The image was transferred to the church, which was rededicated and partially rebuilt.