It was erected in the park in 1923 to commemorate the 8,814 members of the regiment who died in the First World War.

The monument consists of a winged female figure, variously described as Liberty or Victory, mounted on a granite ashlar obelisk with a stone stepped-base, with two attendant bronze figures of a helmeted officer with a drawn pistol, and a private with a Lee-Enfield rifle.

[3] The female figure is by a lecturer, Francis Jahn, while the statues of soldiers, inscribed "E J Parlanti founder, London", are by two students, Roy Smith (the officer) and G N Morewood.

[3] Smith also provided the stone carving at the base of the reverse of the monument, as well as the overall design,[1] which was previously and erroneously attributed to Charles Sargeant Jagger, who had also taught at Sheffield.

[3] It was Grade II listed in June 1973, giving it legal protection from unauthorised alteration or demolition.