The monument, originally the concept of Cyril Demarne, was commissioned by the Firefighters Memorial Charitable Trust set up in 1990.

Initially, the structure was intended as a tribute to those men and women who fought so gallantly against fire on the streets of London during the Blitz of World War II, when the city was struck by bombs on 57 consecutive nights in a sustained campaign of bombing.

The National Firefighters Memorial was moved from its original site in Old Change Court, the plinth was elevated by a little over 1 m, and the names of all those killed in peacetime were added.

The Princess Royal, patron of the Firefighters' Memorial Charitable Trust, attended a service and ceremony of re-dedication on 16 September 2003.

A service of remembrance is held at the memorial annually on the Sunday closest to 7 September, the anniversary of the start of the Blitz.