The chapel’s foundation is covered in mystery, with few written historical records. There are data that show that it might have been contemporaneous to the Parish Church (14th or 15th century), but there are no material traces of that period. In 1609, it was the seat of the meetings of the Confraternity of Nossa Senhora da Boa Viagem dos Homens do Mar. It was only in 1645 that it became the place of worship that it is recognised as today.

Over time, the chapel underwent several extensions and work, before taking shape as the building located next to Pescadores beach, which dates back to the 17th century. At the doors, there are engravings that mark the 1644 as the first year in which improvements were made; exactly two centuries later, in 1844, it was worked at the command of the last municipal president; at the start of the 20th century, new restorations were carried out; and in 1993, the carvings, paintings and gilding of the altar were restored.

In the past, this modestly sized chapel also functioned as a lighthouse, marking the entry to the port for boats and announcing storms. At present, it is the site of the annual celebration of festivities in honour of Nossa Senhora da Boa Viagem, the patroness of the fisher folk of Ericeira, on the third weekend of August.