The monument to Peter I in Nizhny Novgorod was unveiled on September 24, 2014, opposite the Zachatyevskaya Tower of the Kremlin. It was created by the renowned sculptor Alexey Shchitov and architect Sergey Shorokhov.

The statue depicts the emperor in a majestic pose. The height of the bronze figure is 3.7 meters, and the pedestal made of granite and concrete adds another 3 meters, totaling 6.7 meters. Peter's pose resembles the statue in Arkhangelsk, which is depicted on the five-hundred-ruble note, but upon closer inspection, it is clear that it is not the same. The emperor stands with his right leg forward, creating an impression of movement. In his right hand, he holds an open decree on the establishment of the Nizhny Novgorod province. A cane is secured at his waist, and his left arm is drawn back. Peter faces the Volga, gazing at its expanses and the Bor, with his back to the Kremlin.

Peter I visited Nizhny Novgorod twice. In 1695, he stopped in the city on his way to Azov and stayed in a house that later became known as Peter I's House. In 1714, he issued a decree to establish the Nizhny Novgorod province. His second visit occurred in 1722 during a campaign to Persia, when he ordered the construction of a shipyard for new vessels.

On May 30, the tsar celebrated his 50th birthday in the city. Governor Valery Shantsev decided to install a bronze statue of the emperor opposite the Zachatyevskaya Tower of the Kremlin to emphasize Peter I's contribution to the city's development. The unveiling of the monument was timed to coincide with the 300th anniversary of the establishment of the Nizhny Novgorod province.