On May 23, 2016, a monument to the outstanding Russian naval commander Admiral Makarov was unveiled at the St. Petersburg State Maritime and River Fleet University named after Admiral S.O. Makarov. This event took place as part of the celebration of the 140th anniversary of the establishment of the Maritime Classes of the St. Petersburg River Yacht Club. The ceremony was attended by over a hundred people, including the administration, faculty, and cadets of the university, as well as numerous guests and the sculptor, Mikhail Popov. The event concluded with a laying of flowers.

The monument is a three-meter bronze sculpture of the naval commander, set on a small metal pedestal in the foyer of the first floor of the building on the Kosa Line. In his right hand, Stepan Osipovich Makarov holds a map of his voyages, while his left hand points to the routes of future expeditions. The pedestal features bronze bas-reliefs depicting the ships he commanded and on which he made long voyages: 'Vityaz', 'Grand Duke Konstantin', 'Yermak'.