Sebastian De Benalcazak, the first conqueror of Popayan, New Granada, born about the end of the 15th century at Benalcaz, in Estrema-dura, Spain, died in 1550. He set out as a common sailor in the train of Pedrarias, the newly appointed governor of Darien, in 1514. His ability and daring gained for him the confidence of Pizarro, who sent him against the Indian leader Ruminahui. At the moment of engagement the volcano of Cochabamba suffered an eruption, at which the Peruvian army was more frightened than the Spaniards, and tied to Quito. Sebastian then possessed himself of the smoking ruins of this city. Thence he passed northward and overcame Popayan, a chief whose name he transferred to the conquered territory. Inflamed by the speeches of an Indian captive, who spoke of a chief further north who was anointed with gold powder, Benaloazar and his band determined to vist and conquer this el dorado, or "golden one." After traversing vast forests, he arrived in 15:54 in the country afterward called New Granada, but found himself forestalled by two other Spanish adventurers.

He returned to Popayan, and was made governor of that province by a decree dated 1538. But when La Gasca succeeded in supplanting Diego Pizarro, he deprived Benalcazar of his governorship, and the chagrin he felt at this slight is said to have caused his death.