Ferragosto began in 1998 as an initiative of Five Dock’s Main Street Committee. The event was originally held in the Garfield Street car park for the first few years but as it grew, it moved to Great North Road. It has now expanded from Queens Road to Lyons Road – approximately 800 metres in length plus most side streets. As the demand, size and costs of the event increased, so did Council's involvement.
The festival celebrates the Italian heritage of the local community, with considerable support and interest from local businesses, entertainers, community organisations and residents. The event draws a mixed crowd with close to 60 per cent of attendees coming from the City of Canada Bay and the rest from the broader Sydney area. The crowd demographics are mixed with all age groups represented and a broad cross section of cultures.