In the year 1486 King Don Fernando the Catholic moved to the Castle of Corullón, then the residence of Doña Juana Osorio and Don Luis Pimentel, for the creation of the Marquisate of Villafranca. From that date the construction of a Castle in Villafranca began as the headquarters of the Marquisate, being carried out entirely by the II Marquis of Villafranca and Viceroy of Naples Don Pedro de Toledo together with his wife Doña María Osorio y Pimentel.
Since the beginning of the 16th century, there has been an intense relationship between Villafranca and Renaissance Italy, which would intensify at all levels when a daughter of Don Pedro de Toledo, Doña Leonor, born in the Castle of Corullón, married Don Cosme de Medici. .
Since then, the Castle has been the residence of the Marquesado de Villafranca, passing from father to son from that date until today. In the War of Independence -January 1809- it was burned by English and French troops. In 1850 Don Joaquín Caro y Álvarez de Toledo inherited the ruins of the Castle from his mother Doña Tomasa Álvarez de Toledo, Marquesa de Villafranca and Countess de Peña Ramiro, immediately beginning its restoration. For this, he requested the collaboration of the prominent architect of that time, Don Arturo Mélida, who rebuilt the southern part and the eastern and western sides, leaving the rest in ruins.
Since that year it has been the residence of the Counts of Peña Ramiro and their descendants.