The ancient theatre of Larisa was one of the biggest theatres in Ancient Greece and the largest in the territory of Thessaly. Its capacity was 10,000 people. The ancient theatre was located on the southern slope of the hill Frourio, which was the ancient Acropolis of Larissa. Today the ruins of the ancient theatre located in the center of the modern city.

Large Antique theatre (or the First Ancient theatre was built outside the fortified ancient city during the reign of king Philip V of Macedonia at the end of the third century BC and were widely used from about six centuries. Initially, the theater served as not only a place for theatrical action and other cultural events, but also the city Agora, where were the meetings of the national Assembly (the Supreme body of Thessaly). The theater probably was the place of worship of the God Dionysus. Such assumptions were made after near the theatre was discovered the altar of Dionysus. The building had the typical structure of the Hellenistic theatre. At the end of the 1st century A. D. the theatre was converted into a Roman arena and thus was used until the end of the 3rd century B. C., theatrical performance during this period took place in the so-called Maly theatre, which was located nearby.

Many centuries have passed and the once magnificent ancient structure was buried under the ground. Although the upper part of the theatre was visible even before the mid-19th century, but after the earthquake in 1868 he completely disappeared under the rubble of collapsed buildings. Later on this place was built new homes. In 1910, the first investigations were undertaken and the excavated part of the scene. In 1990 began a large-scale program to restore the ancient theatre. Specifically for this purpose was demolished part of the city's buildings.

Today, this ancient building is considered a landmark of the city, an important historical monument and a popular tourist attraction.