This leisure spot was constructed on a historically significant site. During the Edo period, Japan's policy of national seclusion kept it almost completely cut off from the outside world. But that changed in 1853, when a fleet of ships led by Commodore Matthew Perry arrived in Uraga at the mouth of Tokyo Bay (then known as Edo Bay) on a mission to seek the opening of trade and diplomatic relations between the United States and Japan. When the ships arrived, the Tokugawa shogunate moved quickly to defend Edo by erecting a fortress on a piece of reclaimed land in the bay. Odaiba was built about 10 years ago where that fortress once stood.

Besides being a leisure spot, Odaiba also has many urban amenities, including the Tokyo Big Sight international exposition hall, commercial facilities, a TV station, three large hotels, and residential complexes. By 2015, when the Odaiba development project is complete, it will be a full-fledged city where about 70,000 people work and 42,000 people live.