Dedicated to Simón Bolívar "el Libertador", key figure in the emancipation of several Latin American nations, it consists of a bronze equestrian statue put on a stone pedestal.

It is the successful attempt of a series of previously failed initiatives intending to erect a monument dedicated to Bolívar in Madrid,[1] tracing back in time to 1922, including a mammoth 100-metre high discarded project by Juan de Ávalos.

[2] Carlos Arias Navarro, Antonio Aparisi Mocholí and Luis Sánchez Agesta [es] decisively gave thrust to the idea in the 1960s and the project was finally entrusted to Spanish sculptor Emilio Laíz Campos.

[5] The equine figure was modelled after a horse owned by Ángel Peralta Pineda.

[1] The statue is placed on a plinth made of white stone from Colmenar de Oreja and a granite basement, making a total height of 7.50 m.[6] Placed since 1968 in the Parque del Oeste and inaugurated on 28 October 1970, it was soon moved to a new location in the park, and in the process three new plaques were added to the pedestal, the front one reading "Simón Bolívar — Libertador — de Venezuela — Colombia — Panamá — Ecuador — Perú — Bolivia — 1783-1830".