The creation of a national memorial for members of the Armed Forces killed on duty was announced by the Secretary of State for Defence in a statement in the House of Commons on 10 November 2000, to be funded by public subscription.

An international competition was held for the design of the Memorial, which was won by Liam O'Connor Architects and Planning Consultants, with Ian Rank-Broadley, Sculptor.

The Memorial was officially dedicated on 12 October 2007 in a ceremony presided by Queen Elizabeth II and attended by Prime Minister Gordon Brown and Archbishop of Canterbury Rowan Williams.

The Memorial cost £6 million to build, principally funded by sales of a commemorative Trafalgar coin sold by the Royal Mint, and grants from the Millennium Commission.

[5] The mound is surmounted by a Portland stone circle, with openings to the east and west and an obelisk at the eastern end.

It includes the dead from operations in Palestine, Korea, Malaya, the Falkland Islands, Iraq, Afghanistan, and Northern Ireland.

[7] The structure is aligned so that at the 11th hour of the 11th day of the 11th month, the sun's rays will stream through the gap to illuminate the centre of the Memorial.