The circumference is surrounded on both sides by two olive branches in the shape of a crown, linked at the bottom by a ribbon of gules.

In 1952, the Ecuadorian historian and genealogist Pedro Robles Chambers obtained the exact reconstruction of the colonial coat of arms of Guayaquil, thanks to the successful works that J. Gabriel Pino Roca had previously carried out, as well as a set of unpublished documents that Pedro José Huerta provided him.

The same year, the Historical Research Center of Guayaquil published his work entitled Study on the Origin of the Colonial Coat of Arms of the City of Santiago de Guayaquil in which said: ... it was Captain Diego de Urbina who on his own initiative created the coat of arms, for which he framed in the same coat of arms the one of his native city and the one of his lineage, in order to perpetuate the memory of his memorable feat (the one of to have reconstructed the city in 1541 and achieved its definitive consolidation), being without a doubt this the origin of the arms that the city of Santiago de Guayaquil adopted.

I make this affirmation, after a meditated study about the arms of the city of Orduña, those of the family of the conqueror and the similarity that these show with those of our city.The coat of arms of the city of Guayaquil, the result of Urbina's inspiration, would be heraldically described as follows: In the silver field, a castle of its color (old stone), and to its sinister a rampant crowned lion, of a red color, holding a flagpole also of its color, with a flag of gules (red) loaded with a silver cross, all placed on water waves of blue and silver.

The objective elements or entities are: The symbolism of the colors used in the shield are the following: With respect to the metals that are: José Joaquín de Olmedo, as President of the Superior Government Board of the Free Province of Guayaquil in November 1820, ordered that the official papers of the Cabildo bear the seal of a 5-pointed star, with a crown of laurels, a red bow and to one side the legend "Por Guayaquil independiente" (For independent Guayaquil).