One of Australia's oldest markets, the South Melbourne Market, is reflecting on 150 years of serving up delights and giving the community a place to gather.

It has been described as Melbourne's oldest permanent market with its popular dim sims and fresh seafood.

The market opened in May, 1867 and has remained a strong community hub for generations of stall-holders and customers.

It was formerly called the Emerald Hill market, because that was the local municipality's name in the 1800s.

Its transformation to a trendy village market is a world away from live animals that used to be for sale on wagons.

Sophia Andrikopoulos, co-curator of a photo and video exhibition at the market to celebrate the occasion, said it still resonated with many Melburnians.

"We've had characters that it's been part of their life right throughout from early age to our eldest market shopper at 96," she said.

"It was a happy place for a lot of people who have encountered hardships in their lives, mental health issues it seems to be the come back to the market and recall their happy days," Ms Andrikopoulos said.

She said many prisoners of war escaped camps and set up a new life at the market.

"The Australian Military and Association for Refugees wrote to the South Melbourne Market and others requesting a stall and requesting support for stall holders," she said.

"We found that's how some of our Jewish holders obtained their stalls and they were sponsored by family to come here.

"It was a thriving rag trade thanks to the Jewish community at the time, they did some wonderful things."

'Go back to your own country'

One of the many former Jewish business owners is Paul Millet, who escaped Europe during World War II.

Paul Millet, 87, said some Australians resented new arrivals running stalls at the market. ( Supplied: South Melbourne Market/Jesse Marlow )

He has mostly happy memories of the market but said he did experience some racism.

"The people were mostly very nice but there were some who resented so many foreigners at the time," he said.

"I did hear 'why don't you go back to your own country', it was very popular in those days.

"Lucky I could speak English but the anti-foreign feeling was there."

The 87-year-old sold Australian-made knitwear and women's lingerie before he retired in 2000.

"Now most of the things are imported," he said.

"Unfortunately we had very good factories here in knitting which were the best in the world, like Sovrano, they don't exist anymore.

"I did not come here to make money here in Australia — I came here to enjoy my life."

The South Melbourne Market also gave the Chinese a chance to set up their own businesses after the gold-rush.

Market's evolution from tin sheds

Port Phillip councillor Andrew Bond said the exhibition had uncovered a fascinating history.

"In researching the records of the market, we go back to the 1920s, we discovered back then had an entire row of Chinese traders that made up one entire aisle on the Coventry street frontage to the market," he said.

The South Melbourne Market sheds with a car outside in the 1920s. ( Supplied: South Melbourne Market )

Councillor Bond said the display celebrated the market's 150th birthday and showcased its evolution.

"The best thing about the exhibition here is watching the evolution of the market from when the days back in the 1870s was rows of tin sheds, then you see the verandas get added, then the gaps in the sheds get filled it and then the roof goes on and that becomes a carpark," he said.

In an era of factory outlets, convenience stores and online shopping, the market's manager Ross Williamson is not surprised the site is still popular

"It's something that takes us back to our roots when people were growing stuff in their own gardens and moving that way," he said.

The collection of stories and photographs is on display until the end of the month.