Esmeralda was a 44-gun frigate built in Port Mahón, Balearic Islands in 1791 for the Spanish Navy. The First Chilean Navy Squadron, under the command of Thomas Cochrane, captured her on the night of 5 November 1820. She was renamed Valdivia in Chilean service. She was beached at Valparaíso in June 1825.

The First Chilean Navy Squadron was the heterogeneous naval force that terminated Spanish colonial rule in the Pacific and protagonized the most important naval actions of in the Latin American wars of independence. The Chilean revolutionary government organized the squadron in order to carry the war to the Viceroyalty of Perú, then the center of Spanish power in South America, and thus secure the independence of Chile and Argentina.