In 1897, Taganrog City Council issued a resolution to request the sculptor Mark Antokolsky to produce a memorial to Peter I.

In April 1898, Anton Chekhov met with Antokolsky] in Paris to arrange the production of a bronze statue.

In 1940, the Rostov Oblast government decided to re-inaugurate the monument, though not at its historical location on Petrovskaya Street, but on Komsomolsky Boulevard near the Taganrog seaport.

On July 18, 1943, during Occupation of Taganrog, it was re-inaugurated by Nazi Germany authorities in front of the central entrance to Gorky Park.

[2][3] In September 1948, during the celebrations of the 250th anniversary of Taganrog's foundation, the monument was placed at its current located on Komsomolsky Boulevard.