In aims to preserve and keep the Spanish arts' heritage alive, the Spanish Colonial Arts Society initiated the Spanish Market in Santa Fe in 1926. It was primarily designed to showcase the works and crafts of the Hispanic artists, and give them a bigger venue to sell their traditional handmade products.

After almost a century, the tradition of the Spanish Market is still alive in Santa Fe. The fair is still held every July and shows items from at least 250 Hispanic artists from the area. Visitors can find a wide variety of traditional crafts, including tin work, textiles, hide paintings, basketry, pottery, ironwork, colchas, retablos, santos, bone work, ramilletes just to name a few.

The Spanish Market is also the venue for the contemporary Hispanic market which is commonly held the weekend after the major event.