The statue was erected in memory of the victory of the Soviet forces after WWII came to an end.
The sculpture is 14 meters high tall and together with its base, towers 40 meters above the city.
The figure of the woman holding a palm leaf is a symbol of freedom.
Originally the Monument was surrounded by a bunch of Soviet themed statues including a 10 foot tall Soviet solider with flag and a 20 foot tall Soviet solider holding machine guns.
After 1989, when the Communism fell, these statues – along with most of the other Soviet statues in Budapest – were finally removed and moved to Monument Park.
It was debated whether the statue – a symbol of foreign occupation – should be removed, too. But the peaceful female figure were allowed to stay, but its inscription changed from praising the Soviets to:
“To the memory of all of those who sacrificed their lives for the independence, freedom, and success of Hungary.”
It soon became one of the best known monuments in Budapest.
The best spot to take photos of the city is this one: