Serafina Herrera de Sugasti was born in Guararé, Los Santos, Gran Colombia (present-day Republic of Panama) on 21 May 1901. Her parents were Eliseo and Juana Díaz. From an early age, she became involved with politics. At the age of 13, she accompanied then-President Belisario Porras Barahona in collecting votes from her town.

At the age of 21, she married José del Carmen Sugaste in Guarane, Los Santos Province, Panama. The couple had seven children (including Amable and Zenaida). In the 1970s, she joined the Church of Jesus Christ of Latter-day Saints, and continued attending weekly church meetings until she was 105. By the time she turned 111, she was mostly blind due to cataracts, but still remained active around her house and maintained a positive attitude.

Herrera de Sugasti died in La Chorrera, Panamá Oeste Province, Panama on 4 August 2015 at the age of 114 years, 75 days.