The assassination was organized by the Petersburg group of the "Union of Socialist-Revolutionaries-Maximalists," created in early 1906. Stolypin evoked hatred among revolutionaries due to the brutal suppression of their movement. The organizer of the attack was Mikhail Sokolov, known by the aliases "Bear," "Anatoly," and "Pyotr Vasilyevich."

On August 12, Saturday, there was a reception day for Stolypin at the state dacha on Aptekarsky Island in St. Petersburg. The reception began at 14:00. Around 14:30, a carriage approached the dacha, from which two men in gendarmerie uniforms emerged with briefcases. In the first reception room, after meeting with General A. N. Zamyatnin, who was recording the appointments, the terrorists threw their briefcases at the next doors and ran away. A powerful explosion occurred, resulting in over 100 casualties: 27 died on the spot, 33 were seriously injured, and many died later.

Among the injured were two children of Pyotr Arkadyevich, who were on the balcony: twelve-year-old daughter Natasha, who had both legs broken, and three-year-old son Arkady. Stolypin himself and visitors in the office sustained bruises, and the door was torn off its hinges.

After the explosion, Stolypin maintained his composure and restraint, which was of great importance. According to V. N. Kokovtsov, this changed the attitude towards him not only in palace circles and among Petersburg society but also in the Council of Ministers, especially in his circle in the Ministry of Internal Affairs. His position at the throne was strengthened.

On September 1 (August 19), military field courts were introduced for the expedited consideration of terrorist cases, which only intensified the revolutionary struggle.

A flowerbed was established at the site of the attack, and in 1908, a granite obelisk was erected based on the design by architect Robert Marfeld. The first stone was laid on August 12, 1907, personally by Pyotr Arkadyevich Stolypin. In 2006, the monument was restored.