In 1967, a monument to Admiral Makarov, the renowned Russian naval commander and scholar, was erected in the center of Lugovaya Square in Vladivostok. The sculptural composition was created by sculptor Teneta and architect Usachev. The cast-iron figure of the admiral stands tall on a high pedestal. In 1980, at the initiative and expense of Captain Pozdnyakov, a bronze plaque with the admiral's statement about the importance of exploring the Russian North was affixed to the front of the pedestal. Soon, reconstruction of the square began, which led to the sculpture being dismantled and removed for a long time.

In 1999, the monument was installed in a new location on the slope of Naberezhnaya Street, near the 'Ekvatор' hotel. From the high pedestal, the admiral seems to gaze into the distance at the expanses of the Amur Bay. A wide staircase leads to the monument. In 2010, restoration of the cast-iron sculpture, the stepped stylobate, and the memorial plaque was carried out.

Daily, especially during the warm season, residents and guests of the city come here. This place has become popular for evening walks and photographs. In addition to the monument, the name of the celebrated naval commander is immortalized in the name of one of the streets and the Pacific Naval Institute in Vladivostok.

Every year on January 8, the birthday of Admiral Makarov, solemn events are held at the monument in his honor. On this day, representatives of the command and veterans of the fleet, cadets of the military institute, members of various Orthodox and public organizations, as well as concerned citizens gather here.