The original circuit was built on reclaimed marshland at Barra da Tijuca, on the same site as an earlier road course that had operated from 1964 to 1970. Construction spanned from 1971 to 1977. The layout was relatively flat and measured 7.873 km in its original grand prix configuration. A long pit straight and an even longer back straight encouraged high speeds; during the turbocharged Formula One era of the mid-1980s, cars reached 300 km/h on the back straight. The track featured numerous medium-speed and slow-speed corners with generous runoff, providing multiple overtaking opportunities.
A defining feature was the massive grandstand infrastructure that ran almost the entire length of the back straight, offering spectators an unusually complete view of the circuit — a rarity at Formula One venues. Maximum capacity was 90,000. Racing was held in Rio's tropical early autumn, with the exception of the 1978 inaugural race, which took place in January's oppressive summer heat and humidity.
The circuit's debut Formula One race in 1978 was won by Carlos Reutemann in a Ferrari 312T3, with Ronnie Peterson having taken pole position in the ground-effect Lotus 78. After the Brazilian Grand Prix alternated with Interlagos in São Paulo in 1979 and 1980, Formula One moved permanently to Jacarepaguá for the remainder of the decade; Rio's beaches and glamour were considered a better fit for the sport's evolving image than the industrial surroundings of Interlagos.
The 1981 race saw Reutemann win again in a Williams FW07C, controversially ignoring team orders to let reigning champion Alan Jones through. The 1982 race, held during the height of the FISA-FOCA conflict, produced significant controversy when winner Nelson Piquet and second-placed Keke Rosberg were both disqualified for running underweight cars with water-cooled brakes. The result promoted Alain Prost to his first Formula One victory and triggered a retaliatory boycott by FOCA-aligned teams at the San Marino Grand Prix.
Prost became the circuit's most successful driver, winning five times from nine starts. His victories in 1982 (via disqualification of others), 1984, 1985, 1987, and 1988 spanned both the turbo era and the normally aspirated regulations. The 1984 race introduced Ayrton Senna to Formula One, though his Toleman retired early. Nelson Piquet, for whom the circuit was renamed in 1988 after his third world championship, won only twice at his home track — in 1983 and 1986 — and finished third in the year the circuit bore his name.
The 1989 race was the last Formula One event at Jacarepaguá and produced a memorable result: Nigel Mansell won in the Ferrari 640, Formula One's first car with a semi-automatic gearbox. Maurício Gugelmin finished third for March, making it a strong day for Brazilian drivers in the crowd. The Brazilian Grand Prix then moved to a shortened Interlagos, where it has been held ever since.
From 1996 to 2000, the CART series used a separate trapezoid-shaped speedway built within the circuit complex, named the Emerson Fittipaldi Speedway. The oval measured approximately 3.0 km and hosted the Rio 400 (later shortened to the Rio 200). André Ribeiro won the inaugural 1996 event, and the qualifying record was set by Christian Fittipaldi at a speed of 280 km/h.
The circuit also hosted the Rio de Janeiro motorcycle Grand Prix from 1995 to 2004. Valentino Rossi won four consecutive races from 2000 to 2003, while Mick Doohan won in 1996 and 1997. Honda dominated the event, winning seven of the nine races held.
Plans to partially demolish the circuit for the 2007 Pan American Games emerged as early as 2005. A shortened 3.336 km version of the track remained in use for several years, hosting Brazilian Stock Car races. Despite occasional proposals for its revival — including a Hermann Tilke-designed partial redevelopment scheme — the circuit's fate was sealed in January 2008 when Rio was selected to host the 2016 Summer Olympics and the site was identified for an Olympic training complex. Demolition of the main facilities began in November 2012.
Discussions in 2013 about returning Formula One to Rio de Janeiro centred on a new circuit, but no race has been held there since the 1989 Brazilian Grand Prix.