It is one of the most important mountain passes built across Velebit with the aim of facilitating trade between the coastal areas and the mainland.
Theresiana was built in 1786, in order to better link the then military center of Gospić with the free port town of Karlobag, replacing the existing Karolinska Road and its challenging sharp bends and steep sections. The order to build a new, more modern road was issued by the then Austrian Emperor, Joseph II. The road was named after his mother, Maria Theresa.
The construction of the road was entrusted to the frontier officer Filip Vukasović, who later became a renowned builder of the Louisiana Road between the cities of Karlovac and Rijeka.
In 2007, Theresiana became part of the list of cultural goods of the Republic of Croatia.
In order to acquaint as many visitors as possible with the cultural value of Theresiana, the Public Institution in charge of the Velebit Nature Park built an educational trail on one section of the road. The trail is intended solely for walking, and it is particularly interesting due to the diversity of the area it passes through. Although only three kilometers long, the trail provides insight into both faces of Velebit in their full splendor.