Victoria Street was formed in 1887 on reclaimed land and named after Queen Victoria in honour of her Golden Jubilee. The name was suggested by local business owner Thomas Ballinger, who had purchased property on the street. Victoria was a common street name in early Wellington, being the original name for Shirley Street, Nicholson Road, Robieson Road, and more. In order to reduce confusion all but one were renamed.
Victoria Street runs through Wellington Central and Te Aro from Hunter Street to Webb Street. It borders Te Ngakau Civic Square on the west side where the Central Library Te Matapihi has its west entrance, from there it runs parallel to Cuba Street. Though it was very different when first established, running from Hunter Street and curving southeast after Mercer Street along what is now Wakefield Street. That section was renamed to Wakefield Street in 1911, reducing Victoria Street to a small stretch from Hunter Street to Mercer Street.
In the mid-1970s Victoria Street was extended from where it ended at the intersection of Mercer Street through to Webb Street. A number of smaller streets and lanes (Farish Street, Herbert Street, Sturdee Street, Howes Lane, Cumberland Place, Stepney Place, Binham Street, Crosby Place and Evelyn Place) became part of Victoria Street for this extension. Ingestre Place was renamed to Stepney Place in 1926.