The Order was instituted on April 10, 2008, by the Verkhovna Rada of Ukraine to honour special merits of citizens for strengthening the sovereignty and independence of Ukraine, consolidating Ukrainian society, developing democracy, advancing socio-economic and political reforms, and advocating the constitutional rights and liberties of man and citizen.

The Commission on State Awards and Heraldry was instructed to hold an all-Ukrainian competition to develop designs for the Order of Freedom and the Medal for Saved Life within three months and to submit a bill amending the Law of Ukraine "On State Awards of Ukraine" based on its results.

The sign of the Order of Freedom is made of gilded silver and has the shape of an equilateral cross with diverging sides.

The sides of the cross are covered with white enamel and decorated with four rectangular artificial Swarovski crystals.

In the center of the cross is a round blue enamel medallion with a gold image of the Sign of the Princely State of Vladimir the Great, which is framed by a laurel wreath.