Until the early 19th century, there was no tradition of erecting sculptural monuments in Moscow. In honor of significant events, chapels and churches were built, such as St. Basil's Cathedral on Red Square, constructed in memory of the capture of Kazan. The first monuments in Russia appeared in St. Petersburg and were dedicated to its founder, Peter I. Over time, the people of Moscow also wanted to immortalize their heroes, choosing Kuzma Minin and Prince Dmitry Pozharsky for this purpose.

The idea of creating a monument to the leaders of the Second Militia, who liberated Moscow from the Polish invasion in 1612, was proposed by the Free Society of Lovers of Literature, Sciences, and Arts in the early 19th century. Initially, it was planned to erect the monument in Nizhny Novgorod, the birthplace of the militia. In 1804, sculptor Ivan Petrovich Martos, one of the most renowned sculptors in Russia, created a model of the monument on his own initiative. In 1811, it was decided to install the monument in Moscow, where the main events of the Second Militia took place. After the Patriotic War of 1812, the monument to Minin and Pozharsky acquired new significance as a symbol of victory over the invaders.

The monument was created thanks to donations from across the country: from the imperial family to peasants. The amounts of donations varied from 50 kopecks to 5000 rubles, and funds came from different provinces of Russia. The solemn opening of the monument took place on Red Square on February 20, 1818, in the presence of Emperor Alexander I and a large crowd.

Sculptor Martos expressed the idea of the monument as follows: "Minin is reaching out for the salvation of the Fatherland, grasping the hand of Pozharsky in a sign of their unity, and with his other hand, he points to Moscow in danger." The monument was installed in the center of Red Square, opposite the Upper Trading Rows building. Minin, addressing the wounded Pozharsky, points to the Kremlin, where the invaders are located. Pozharsky leans on a shield with the image of the Savior Not Made by Hands, accepts a sword, and prepares for action. The pedestal is adorned with bas-reliefs: on the front side, there is a depiction of fundraising for the Second Militia, and on the back, the defeat of the Poles. The pedestal bears the inscription: "To Citizen Minin and Prince Pozharsky, grateful Russia in the year 1818."

After the revolution, the monument could have been destroyed, but these plans were not realized. However, it was relocated as it obstructed transport and demonstrations. Additionally, Minin pointing towards the mausoleum evoked associations among the townspeople. In 1931, the monument was moved to St. Basil's Cathedral, where it remains today. In 2010 and 2011, restoration work was carried out to reinforce the monument.

Nizhny Novgorod also received its monument: in 2005, Zurab Tsereteli created a smaller copy of the Moscow monument, installed near the Nizhny Novgorod Kremlin.