Palazzo Fava is the third Palace having this name in Via Manzoni. It was built during the Middle Ages thanks to the Fava family who came into its possession in 1546. The architectural building’s paternity is uncertain, but may be ascribed  to Francesco Morandi,  also known as Terribilia. In 1584 Filippo Fava,  who belonged to one of the most important families of Bologna, commissioned  Ludovico, Agostino and Annibale Carracci to paint several rooms on the main floor.   They gave birth to the first major fresco cycle in their career, thus reaching high results in anti -academic naturalism and artistic competence.   At the piano nobile (the main floor) of the palace, fresco cycles telling the stories of Jason and Medea and Enea can be found.

In 2007 the renovation of Palazzo Fava Ghisilieri began (thanks to the Fondazione Cassa di risparmio di Bologna in cooperation with  the Opificio delle Pietre Dure di Firenze and the Soprintendenza per il Patrimonio Storico Artistico e Etnoantropologico di Bologna. .

The palace (now known as Palazzo Fava. Palazzo delle Esposizioni) covers an area of more than 2600 square meters and regularly hosts exhibitions.  Palazzo Fava. Palazzo delle Esposizioni is part of the cultural, artistic and museum itinerary Genus Bononiae. Musei nella Città.