The monument on Vosstaniya Square was erected on 8 May, 1985 to commemorate the 40 Anniversary of victory in World War II.

The obelisk is a heavy granite monolith weighing 240 tons. It resembles a bayonet, crowned with a golden star. The monument constitutes the panoramic view of Nevsky Prospect, ended with the spilre of Admiralty building. The Hero City Obelisk is pentahedral in shape; its cross section has the shape of a star, similar to its golden star on the top. The monument has the informal name “screwdriver”.

Legendary St. Petersburg "hippopotamus" – a monument to Alexander III was established on the place of the obelisk in the beginning of XX century. After the revolution it was moved to the garden of the Marble Palace.

City’s largest shopping centers are situated around Vosstaniya Square.