It was laid in the 1810s as a result of the re-planning and development of Podil after the fire of 1811 and was named Oleksandrivska in honour of Emperor Alexander I. In 1989, the street received its modern name in honour of the Cossack Hetman Petro Konashevych Sahaidachnyi.
The Church of the Nativity of Christ (1809–1814, architect Andrii Melenskyi) stands on the corner of Sahaidachny Street and Poshtova Ploshcha (Postal Square); and Poshtova Ploshcha metro station and the funicular are located nearby. Many houses of the 18th and 19th centuries have survived since then in the street.