Located in the municipality of Stari Grad, Nikola Pašić Square lies in downtown Belgrade as the direct extension of Terazije.

Named after Nikola Pašić, Serbia's famous early 20th-century politician and prime minister, it overlooks the monumental building of the House of the National Assembly and itself extends into urban Belgrade's longest street, Bulevar kralja Aleksandra, while Dečanska Street connects it to the Republic Square.

[1][2] At the corner of Bulevar Kralja Aleksandra and Dečanska Street, near the former "Topola" kafana, the first gas station in Belgrade was open.

It was located on the spot close to the modern fountain, where the jardinières facing the National Assembly are situated today.

[3] In order to make room for the "contemporary works in the style of the Socialist realism", the new urban concept of Belgrade after 1945 "ruthlessly demolished all obstacles".

In order to create the new, wide plateau of the square named after Marx and Engels and effectively being transformed into a parking later, several buildings were demolished prior to te beginning of the construction of Dom Sindikata in 1947.

Inaugurated as the Marx and Engels Square in honour of the famous communist theoreticians, its original terrain was so hilly that much earth had to be removed in order to make its construction possible.

A designing concept from the 1950s, work of Hranislav Stojanović, envisioned a fan-shaped pedestrian plateau with a tall monument dedicated to Marx and Engels, which would reflect in an elongated cascade pool-fountain.

On the initiative of Đoko Vještica, famous Belgrade radio host, the greenery was planted on the square, including the plane trees.

When the statue was to be erected, ideas of bringing back the earth to the square in order to create an artificial hillock as a pedestal for the monument reappeared, but were again ultimately abandoned.

Public debate on arranging the area continued, with some supporting the present, open for all status, while other suggested former solution by Nikolay Krasnov, which included avenue, decorative iron fence, gates and sentry boxes.

[12][13] The dominant architectural features in the square are the massive "Dom sindikata" building and one of the Belgrade's largest fountains.

The pedestrian section of the square is used for various public events, most notably open flower, honey, and book sales.

On occasion, artificial ice rink or beach volley sand courts are put up as seasonal attractions in winter and summer, respectively.

In terms of architecture, it is the symbol of the construction immediately after the war, and with its position and volume, it permanently set the outline of the square, which itself is one of the most important public spaces in Belgrade.

[19] Since the 1950s, the covered square was a quiet corner in sole downtown, with mini gardens and coffee shops and a popular destination of many Belgraders, but in the recent decades mainly lost that function.

A webbed roof, shaped like a semi-opened dome, made of concrete and projected by Vladeta Maksimović, was constructed to cover the plateau and the fountain.

When the popularity of the Italo disco reached Belgrade, the club organized dance competitions for participant from the entire Yugoslavia.

[5] In 2017, city government announced that, within the scopes of the reconstruction of the square, it will demolish the fountain and build a new, smaller one, with the sprinklers on the ground level.

[5] Chief city urbanist Marko Stojčič stated in July 2019 that the fountain is not envisioned by the new project at all, adding that he will "insist to keep water in some form".

[8] The square's open space attracts various bird species, among them: feral pigeon, house sparrow, hooded crow, European kestrel, and common swift.

Furthermore, walking around the square, it is possible to hear great tit and woodpigeon sounds emanating from the nearby Pionirski Park.

[31][32] On 25 May 1984—Marshal Tito's "birthday", known in SFR Yugoslavia as the Day of Youth—the square saw a large open-air rock concert the admission for which was free of charge.

[33] The acts that participated in order of appearance were: Delta 9, Beta Kentauri, Dorian Gray, U Škripcu, Električni Orgazam, Film, Divlje Jagode, Zabranjeno Pušenje, Dʼ Boys, Disciplina Kičme, Kerber, and Drugi Način.

[33] On 24 May 1986, another Day of Youth celebration was scheduled for the Marx and Engels Square with a multitude of Yugoslav rock acts booked and over 100,000 in attendance.