The Spice Bazaar is located in Eminönü district behind the New (Valide) Mosque next to the Flower Market. It is one of the oldest covered bazaars in Istanbul. The bazaar famous with its herbalists and spice shops is still busy with selling medicinal herbs, spices, rare barks and roots in the traditional way and also dried fruits and nuts, delicatessen and various foodstuffs.

It is said that in Byzantine era an old bazaar called Makron Envalos previously existed where the current Egyptian Bazaar stands. The current building was ordered by Turhan Sultan (one of the chief consorts of the Ottoman Sultan Ibrahim and the mother of his successor, Mehmed IV) in 1660. At the beginning it was called as New Bazaar or Valide Bazaar, but after the 18th century it was being named as Egyptian Bazaar, thus it is believed that the construction was financed with the taxes collected from Egypt.