The signing of the Treaty of Constantinople marked the end of the long and costly First Ottoman–Venetian War, which had lasted for 16 years, beginning in 1463. The war stemmed from Ottoman ambitions to expand their influence in the Mediterranean and the desire of Venice to protect its own trade routes and territories. The conflict saw a series of naval battles and sieges, including the notable Siege of Negroponte in 1470, which resulted in a decisive Ottoman victory and heightened tensions between the two powers. As battles continued, both sides suffered from considerable losses, economically and militarily, and the need for a resolution became increasingly apparent.

Negotiations for peace began in earnest as both the Ottomans and the Venetians recognized the futility of further conflict. The treaty was established in Constantinople, the Ottoman capital, and included a series of terms that reshaped the political landscape of the region. The Ottomans, led by Sultan Mehmed II, were able to confirm their control over territories in the Aegean and gain critical advantages in trade. Venice, under the leadership of the Doge, Francesco Foscari, agreed to cede key territories, but successfully retained some islands and trading privileges that allowed them to continue their maritime commerce.

The Treaty of Constantinople represented a crucial turning point in the relations between the Venetians and the Ottomans. It facilitated a period of relative peace, allowing both powers to consolidate their strengths and stabilize their territories. The treaty highlighted the strategic importance of diplomacy in European politics during this era and underscored the rising power of the Ottoman Empire in the Mediterranean region.