The Aldwych Theatre, which opened Dec. 23, 1905, with a showing of "Blue Bell," was built by Walter Wallis, designed by W.G.R. Sprague, and funded by Seymour Hicks, along with Charles Frohman. It was decorated in an ornate Georgian style and was opened as part of new construction to London's Aldwych, which also includes the theatre's almost identical corresponding theatre, the Waldorf Theatre (known as the Novello today). The two theatres surround the Waldorf hotel. The Aldwych is a Grade II, West End theatre located at Aldwych, WC2B 4DF, in Westminster.

After "Blue Bell," the theatre showed "The Beauty of Bath" in 1906, "The Gay Gordons" in 1907, and the site was used as the rehearsal space for "Le Sacre du Printemps," a controversial play which premiered in Paris later that year. In 1920, "The Unknown" was performed and from 1925 to 1933, it was the performing center for farces by Ben Travers, featuring Norma Varden, Winifred Shotter, Robertson Hare, comedian Tom Walls and Yvonne Arnauld, a popular singer of the time. These performances, played exclusively at this theatre, were known as "The Aldwych Farces." In 1933, a new version of "Das Dreim?derlhaus" was presented at the theatre under the title "Lilac Time." "A Streetcar Named Desire" was shown in 1949 and the Academy Award-winning actress Vivien Leigh, who had won the award for the film version of the play, performed. The show was directed by Laurence Olivier, Leigh's husband.

In December of 1960, the theatre management announced that the Royal Shakespeare Company of Stratford-upon-Avon was planning to base its London productions in the theatre for the next three years. In actuality, the group stayed in the theatre for more than 20 years, moving to the Barbican Arts Center in 1982. During the company's time in the theatre, they produced many popular shows including "The Greeks," "Nicholas Nickleby," and multiple Shakespeare shows.

From 1990 to 1991, "Private Lives," starring Joan Collins, was shown at the Aldwych. Other productions include "An Inspector Calls," shown from 1993 to 1995; "Indian Ink," running from 1995 to 1996; "Tolstoy," shown from April to May 1996; Andrew Lloyd Webber and Jim Steinman's "Whistle Down the Wind," which ran from 1998 to 2001; "Thunderbirds FAB," performed from 2001 to 2002; "Fame - the Musical," which had an impressive run spanning from Sept. 6, 2002, to April 22, 2006; and "Dirty Dancing - the Classic Story on Stage," which premiered Sept. 28, 2006, and continues to play currently.

The theatre has a potential capacity of 1,176 patrons, but as the standing areas are rarely used, it effectively has 1,092 seats. The stalls of the theatre have two aisles that run from the back of the theatre to row HH. The seats in the front section have no gangway and are in one central block. The Dress Circle offers great views of the stage, sans row M, which is affected by the Upper Circle's overhang. There are also a few front-row seats which may have views blocked by a handrail.