The tower got its name due to its round shape. It is also called Zaikonospasskaya because of its proximity to the Zaikonospassky Monastery.

Originally, the tower was built in 1535-1538 by architect Petr Malyy Fryazin, along with the entire wall.

In the early 20th century, the tower housed the Museum of Poultry Farming of the Russian Society of Agricultural Poultry Farming. In 1934, the tower was demolished, and in 1997 it was recreated according to a new design. Currently, it houses the restaurant "Old Tower."