The Roman Catholic parish church of St. Francis of Assisi, located on Alfonso Betancourt Street, is one of the most important religious buildings in Santa Cruz. The temple belonged to the last Franciscan monastery founded in the Canary Islands. Work on the construction of the monastery complex has been going on for more than a hundred years.

In 1676, official permission was obtained to build a monastery dedicated to Saint Pedro de Alcantara, and a wealthy patron was found. At the beginning of the 18th century, one of the local monks, José Perez, volunteered to lead the work on the future church as an architect. First, a three-tiered bell tower is built from blue hewn stone. Then they build the crossroads of the future church and its main chapel. In 1718, under the direction of the same monk, the side chapel of the Retirement of Our Lady was completed. A little later, the chapel of the Man of Sorrows and the chapel of the Most Reverend Third Order are added to them.
In the 60s of the 18th century, the original single-nave structure of the temple increased to three naves, covered with semicircular arches. In the 70s, the monastery continued to expand, including the reconstruction of the old bell tower. In 1872, the bell tower acquired a clock - a gift from city merchants.

The rich interior of the church contains many sculptures and paintings of great historical and cultural value.

In the middle of the 19th century, after a series of church laws, the premises of the monastery were secularized. In the 20th century, the monastery galleries were destroyed, and buildings for the museum, library, and court were built in their place. The temple, which stood closed for some time, was transformed into a church parish in 1869, which is still operating. It regularly hosts services and other religious ceremonies.