The memorial consists of a Portland stone column approximately 7.5 metres (25 ft) high, with buttress plinths, on a granite base, and attached bronze sculptures.

Behind the bronze soldiers, the north and south sides of the stone column each bear carvings of three flags, with each flagpole topped by a crown and a wreath.

The stone-carver and letterer was William Silver Frith, and the architect was Sir Aston Webb, who was President of the Royal Academy from 1919 to 1925.

[5] Webb's original proposal, including masts standing 75 feet (23 m) high bearing the Royal Standard and the flag of the City of London, and statues representing Peace and Victory, was rejected by the Court of Common Council, but his second design was accepted.

[7] To create space for the memorial in front of the Royal Exchange, a drinking fountain was moved to Cornhill, where it replaced a statue of Sir Rowland Hill, which was moved to St Martin's le Grand, The memorial was unveiled in front of a large crowd on a foggy day, 12 November 1920, the day after the ceremony to bury the Unknown Warrior at Westminster Abbey.