It was built in neoclassical style from a design of Giuseppe Segusini between 1833 and 1835, demolishing the ancient seabed of the fodder (of which remains a testimony in the lintel of 1625, walled on the back of the theatre) that was much smaller, next to Porta Dojona close to the city walls.
The facade is similiar to other realizzations by Segusini in those years in Veneto (Feltre, Serravalle) and in Austria, where the Innsbruck Theatre represents an interesting variation on the architectural theme of Belluno. The entrance stairs is characterized by two lions by Pietro Zandomeneghi, as the two friezes above the side doors of the theatre.
Around, on the top, nine busts in stone and bronze of Venetian Rectors of the sixteenth and seventeenth centuries that come from the demolished comunal palace. The inside was rebuilt the first time in 1866, and again in 1948 and 1993.
Since November 7, 2023, the theatre is named after Dino Buzzati, one of the most translated authors in the world, an eclectic artist capable of ranging from fiction to comics, from painting to theatrical text. Being the theater the place par excellence of culture, the title to Buzzati is a consequence of the link he has always had with his Belluno and a sign of esteem and affection for an artist who loved the theater deeply, who wrote 17 pieces and who throughout his life has tried to get recognition also through dramaturgy.