It opened in December 2005 and includes sculptures of the country's four Nobel Peace Prize winners, Albert Lutuli, Desmond Tutu, F. W. de Klerk, and Nelson Mandela.
The square was the brainchild of Ebrahim Rasool, Premier of Western Cape from 2004 to 2008, and his predecessor Marthinus van Schalkwyk.
The statues, slightly taller than the four people depicted, are arranged in a semicircle with their backs to Table Mountain.
A fifth sculpture, entitled "Peace and Democracy," represents the role of women and children in the anti-apartheid movement.
A competition invited ten artists from around South Africa to submit proposals, with Claudette Schreuders's entry inspiring the four sculptures of Nobel winners and Noria Mabasa's idea selected for "Peace and Democracy.