Alexey Petrovich Yermolov was born in 1777 in Moscow, coming from a modest noble family in the Oryol province. He received his education at the Moscow University boarding school and graduated with honors from the Second Cadet Corps. In 1792, Yermolov began military service, and from 1794 he served under the command of Alexander Suvorov. He participated in many significant wars of the Russian Empire, including the Patriotic War of 1812, the Caucasian War, and the Russo-Persian Wars. Yermolov is buried in Oryol, in the right chapel of the Holy Trinity cemetery church.

In 1991, local historians in Oryol wanted to relocate the Yermolov monument from Grozny, but they were unable to do so as it was destroyed by Dudayev's forces. The question of erecting an equestrian statue of the general was repeatedly raised by Oryol Cossacks and local historians. A competition for the best project was organized, funds were raised, and the monument was commissioned to Moscow sculptor Ravil Yusupov, who based it on the image of the Bronze Horseman from St. Petersburg.

In 2002, a stone with a commemorative inscription about the future unveiling of the monument was installed in Yermolov Square. After the stone was dismantled and the pedestal was installed, the monument was unveiled on July 27, 2012. It was consecrated by Archbishop Anthony of Oryol and Livny and Hieromonk Iliya (Nozdrin). The monument was erected as part of the preparations for the 200th anniversary of the victory in the Patriotic War of 1812. The height of the monument is almost five and a half meters, and the pedestal is four meters. The total cost of manufacturing, transportation, installation of the monument, and landscaping of the area amounted to 19 million rubles.