The square is built on the spot were the Kipdorp gate previously stood, a part of the 16th century city walls that were demolished in 1860.

The square eventually received its present name after the Second World War, honoring the recently deceased American president Franklin D. Roosevelt.

[2] Originally, the square had an imposing design, with statues and decoration with plants and intersected by the Leien and Turnhoutsebaan.

The square has functioned during the past decades as the absolute hub for city and regional bus lines in Antwerp, with 28 platforms that are serviced by busses going in any direction, as well as the above mentioned tram routes.

Beginning in June 2017, large scale construction works will start on the Rooseveltplaats as a part of the larger Noorderlijn project.