This precious Chapel was incorporated in the Convent of the Teatini, first seat of the University of Palermo, on via Giuseppe D'Alessi, at the corner with via Maqueda. It was originally orientated parallel to via Maqueda, then it was  destroyed,  in the early of the 19th century, when the house of Teatini became the head office of the University of Palermo and on this street was realized the current entrance porch of the University. Thus in 1805, the confraternity of the Falegnami took possession of the actual oratory, which from that moment was named after them.

In the vestibule, there is the "Fercolo di San Giuseppe" (reliquary) and a fine papier-mâché statue of the Immaculate, dating from 18th century. The two wooden doors, that give access to the oratory, depict episodes of the Holy Family.

The numerous stucco decorations made in 1701 by Giuseppe and Procopio Serpotta, brother and nephew of the better-known Giacomo Serpotta, include frames, puttos, medallions and garlands in which the 18th century frescoes are inserted.

The altar, made in 1806, illustrates scenes of the Holy Family, based on a drawing of Venanzio Marvuglia, while above the tympanum, two little puttos hold in their hands the symbolic tools of the confraternity: the square and the compass.

The Oratory of the Falegnami, closed to the public and to worship for many years, has been re-opened as University Chapel in 2009.