A medieval stone church once stood on this site, serving as the focal point of Torpa parish. The present building was completed in 1669, less than fifty years after Borås was granted city status, and was built in a restrained, distinctively Swedish Caroline style that contrasts sharply with the baroque grandeur found in contemporary noble houses and Catholic church buildings elsewhere. The church was known as Torpa kyrka until 1905, when it was renamed Caroli in memory of King Karl XI.
The tower was added in 1681, and the church has been rebuilt and repaired several times following fires in 1681, 1727 and 1822; the tower's current appearance dates from the mid-nineteenth century. Inside, the long, three-aisled nave, choir and west tower echo the layout of late medieval churches, and the building has been compared to Gothenburg Cathedral in style.
Two major restorations shaped the interior seen today. Between 1914 and 1915, architect Karl Berlin oversaw the addition of the porch and new ceiling decoration designed by Filip Månsson. A larger rebuilding followed in 1938–1940 under Sigfrid Ericson, adding the sacristy, strengthening the floors and foundations, removing the side galleries, widening the organ gallery, and repairing the tower roof.
The font and pulpit seen today were designed by Sigfrid Ericson and made by Johan Björk in the early twentieth century. The altarpiece dates from 1840, made by Johannes Andersson of Mjöbäck, with side panels by Birger Lignell, while an altar crucifix and silver candlesticks were donated to the church in 1975.
The church has a long organ-building history stretching back to 1694, with instruments and rebuilds by noted organ builders including Johan Niclas Cahman; an earlier organ was destroyed in the 1727 fire. The main organ on the west gallery, built in 1970, incorporates older pipework and retains a striking façade dating from 1824, alongside a smaller movable organ used in the choir.