Although it was modeled on an old 19th-century Basque liqueur, the current form of Izarra was first manufactured by Joseph Grattau in 1906. The drink comes in two versions, as an aromatic, bright yellow Izarra, and as peppermint-flavored green variety.

Yellow Izarra Jaune is produced with 13 plants and spices. It is a complex, aromatic drink that displays spicy and herbaceous notes with subtle nuances of honey. Green Izarra Vert is produced with a secret mix of 16 plants and spices and has been tinted green with a natural herbal infusion, while peppermint aroma dominates and provides for its typical refreshing flavor.

With 40% ABV, both Izarra version can be served neat or on the rocks, but they also incorporate well into cocktails and desserts.