Villa Schifanoia was build on the rests of a group of houses once belonging to the nearby Palmieri`s estate. As the name says, the villa was a place dedicated to pleasure and amusement (in fact, "schifanoia" means "schivare la noia", that is "avoid boredom").

The central part of the villa was built in the 15th century and belonged to the Cresti family until 1550, when it was sold to Bartolomeo di Bate di Zaccheria.

In 1927 the American ambassador to the Holy See, Myron Taylor, bought the villa, that in the previous centuries had undergone several transfers of property. He commissioned the renovation of the building and transformed the park in a magnificent Italian garden.
Previously, a gentilitial chapel and the north-west wing of the villa had been added. The latter is known also as "villetta" (the small villa).

When Taylor died, the Holy See, the new owner, transformed the villa in a boarding school for the American girls who studied in Florence. In 1986 the Italian government bought the villa, which is now the headquarters of the prestigious European University Institute.